The price of Western Digital Corporation (NASDAQ:WDC) shares last traded on Wall Street rose 1.53% to $38.51.
Based on available information, 25 analysts follow Western Digital Corporation (NASDAQ:WDC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $60.00 and a low of $31.00, we find $41.00. Given the previous closing price of $37.93, this indicates a potential upside of 8.09 percent. WDC stock price is now 4.34% away from the 50-day moving average and 4.96% away from the 200-day moving average. The market capitalization of the company currently stands at $12.40B.
Among analysts, 11 rate the stock a hold while 9 rate it a buy. Brokers who have rated the stock have averaged $43.79 as their price target over the next twelve months.
With the price target reduced from $38 to $35, UBS maintained Neutral rating for Western Digital Corporation (NASDAQ: WDC).
In other news, Zamiska Gene M., SVP & Princ. Acctg Officer sold 2,169 shares of the company’s stock on Sep 07. The stock was sold for $88,712 at an average price of $40.90. Upon completion of the transaction, the SVP & Princ. Acctg Officer now directly owns 31,554 shares in the company, valued at $1.22 million. Insiders disposed of 440,854 shares of company stock worth roughly $16.98 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WDC stock. A new stake in Western Digital Corporation shares was purchased by FIFTHDELTA LTD during the first quarter worth $72,187,000. BALYASNY ASSET MANAGEMENT L.P. invested $24,646,000 in shares of WDC during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in Western Digital Corporation valued at approximately $18,191,000. IPG INVESTMENT ADVISORS LLC acquired a new stake in WDC for approximately $9,295,000. POINT72 HONG KONG LTD purchased a new stake in WDC valued at around $6,358,000 in the second quarter. In total, there are 838 active investors with 89.60% ownership of the company’s stock.
A candlestick chart of Western Digital Corporation (NASDAQ: WDC) showed a price of $37.87 on Monday morning. During the past 12 months, Western Digital Corporation has had a low of $29.73 and a high of $50.95. As of last week, the company has a debt-to-equity ratio of 0.61, a current ratio of 1.60, and a quick ratio of 0.90. The fifty day moving average price for WDC is $37.01 and a two-hundred day moving average price translates $36.69 for the stock.
The latest earnings results from Western Digital Corporation (NASDAQ: WDC) was released for Mar, 2023. According to the Computer Hardware Company, earnings per share came in at -$1.37, beating analysts’ expectations of -$1.57 by 0.2. This compares to $0.08 EPS in the same period last year. The net profit margin was -4.90% and return on equity was -5.80% for WDC. The company reported revenue of $2.8 billion for the quarter, compared to $4.38 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -36.02 percent. For the current quarter, analysts expect WDC to generate $2.53B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/17/2020. Investors who held shares on 04/03/2020 were paid a $0.50 dividend.
Western Digital Corporation(WDC) Company Profile
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook personal computers (PCs), smart video systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications; and flash-based memory wafers. The company also provides enterprise helium hard drives; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, on-line transactions, data analysis, and other enterprise applications; drives are used for data storage systems and tiered storage models; and data storage platforms. In addition, it offers client solutions, such as external HDD storage products in mobile and desktop form; client portable SSDs; removable cards that are used in consumer devices comprising mobile phones, tablets, imaging systems, and cameras and smart video systems; universal serial bus flash drives for use in the computing and consumer markets; and wireless drive products used in-field back up of created content, as well as wireless streaming of high-definition movies, photos, music, and documents to tablets, smartphones, and PCs. The company sells its products under the Western Digital, SanDisk, and WD brands to original equipment manufacturers, distributors, dealers, resellers, and retailers. Western Digital Corporation was founded in 1970 and is headquartered in San Jose, California.
