Western Digital Corp. [WDC] stock prices are up 1.82% to $57.08 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The WDC shares have gain 5.70% over the last week, with a monthly amount drifted -5.39%, and not seem to be holding up well over a long-time horizon.
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On 13, February 2024, Western Digital to Participate in Upcoming Investor Conference. In a post published today on Yahoo Finance, Western Digital Corp. (NASDAQ: WDC) today announced management participation in the upcoming investor conference:.
From an analyst’s perspective:
Western Digital Corp. [NASDAQ: WDC] stock has seen the most recent analyst activity on January 26, 2024, when TD Cowen reiterated its Outperform rating and also boosted its price target to $75 from $50. Previously, Cantor Fitzgerald started tracking the stock with Overweight rating on January 23, 2024, and set its price target to $70. On January 22, 2024, Morgan Stanley reiterated its Overweight rating and revised its price target to $73 on the stock. Deutsche Bank upgraded its rating to a Buy and increased its price target to $65 on January 16, 2024. Barclays upgraded its rating to a Overweight and raised its price target to $65 on January 16, 2024. Goldman upgraded its rating to Neutral for this stock on November 21, 2023, and upped its price target to $48. In a note dated October 31, 2023, Fox Advisors upgraded an Overweight rating on this stock but restated the target price of $52.
The stock price of Western Digital Corp. [WDC] has been fluctuating between $31.97 and $60.55 over the past year. Currently, Wall Street analysts expect the stock to reach $63.33 within the next 12 months. Western Digital Corp. [NASDAQ: WDC] shares were valued at $57.08 at the most recent close of the market. An investor can expect a potential return of 10.95% based on the average WDC price forecast.
Analyzing the WDC fundamentals
The Western Digital Corp. [NASDAQ:WDC] reported sales of 11.26B for trailing twelve months, representing a drop of -2.41%. Gross Profit Margin for this corporation currently stands at -0.03% with Operating Profit Margin at -0.22%, Pretax Profit Margin comes in at -0.24%, and Net Profit Margin reading is -0.51%. To continue investigating profitability, this company’s Return on Assets is posted at -1.53, Equity is -2.61 and Total Capital is -22.65. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at -6.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 56.46 points at the first support level, and at 55.84 for the second support level. However, for the 1st resistance point, the stock is sitting at 57.69, and for the 2nd resistance point, it is at 58.30.
Western Digital Corp. [WDC] reported earnings per share of -$0.69 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$1.13/share, meaning a difference of $0.44 and a surprise factor of 38.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$1.76 per share as compared to estimates of -$1.9 per share, a difference of $0.14 representing a surprise of 7.40%.
Ratios To Look Out For
It’s worth pointing out that Western Digital Corp. [NASDAQ:WDC]’s Current Ratio is 1.67. Further, the Quick Ratio stands at 0.98, while the Cash Ratio is 0.05. Considering the valuation of this stock, the price to sales ratio is 1.65, the price to book ratio is 1.85.
Transactions by insiders
Recent insider trading involved SODERBERY ROBERT, EVP & GM, Flash Business, that happened on Nov 03 when 45461.0 shares were sold. EVP & GM, Flash Business, SODERBERY ROBERT completed a deal on Nov 02 to sell 20000.0 shares. Meanwhile, SVP & Princ. Acctg Officer Zamiska Gene M. sold 2169.0 shares on Sep 06.
