Western Digital Corp (NASDAQ:WDC) price on current trading day, rose 1.50% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $50.23.
A look at the stock’s price movement, the level at last check in today’s session was $49.49. The PE ratio in trailing twelve months stood at 9.55. Turning to its 52-week performance, $61.62 and $28.83 were the 52-week high and 52-week low respectively. Overall, WDC moved 33.24% over the past month.
Western Digital Corp’s market cap currently stands at around $17.52 billion, with investors looking forward to this quarter’s earnings report slated for in June. The company has a Forward Dividend ratio of 0.00, with its dividend yield at 0.00%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 2.45B for the company’s revenue for the quarter, with a low and high estimate of 2.41B and 2.5B respectively. The average forecast suggests down to a -34.87% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 9.37B, representing a -27.92% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that WDC is a 50% Buy. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
19 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 16 recommend WDC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
WDC’s current price about 8.91% and 19.91% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 71.36, while 7-day volatility ratio is 2.69% and 3.13% in the 30-day chart. Further, Western Digital Corp (WDC) has a beta value of 1.47, and an average true range (ATR) of 1.70. Analysts have given the company’s stock an average 52-week price target of $65, forecast between a low of $50 and high of $82. Looking at the price targets, the low is 0.46% off recent price level in today’s trading while to achieve the yearly target high, it has to move -63.25%. Nonetheless, investors will most likely welcome a -29.4% jump to $65 which is the analysts’ median price.
If we refocus on Western Digital Corp (NASDAQ:WDC), historical trading data shows that trading volumes averaged 8.63 million over the past 3 months. The company’s latest data on shares outstanding shows there are 349.00 million shares.
The 0.98% of Western Digital Corp’s shares are in the hands of company insiders while institutional holders own 103.41% of the company’s shares. Current price change has pushed the stock 11.48% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the WDC stock continues to rise going into the next quarter.
