The stock of Western Digital Corporation (WDC) has seen a -4.64% decrease in the past week, with a -19.02% drop in the past month, and a -2.64% decrease in the past quarter. The volatility ratio for the week is 3.94%, and the volatility levels for the past 30 days are at 2.87% for WDC. The simple moving average for the last 20 days is -8.15% for WDC stock, with a simple moving average of -13.74% for the last 200 days.
Is It Worth Investing in Western Digital Corporation (NASDAQ: WDC) Right Now?
while the 36-month beta value is 1.70.Analysts have differing opinions on the stock, with 11 analysts rating it as a “buy,” 2 as “overweight,” 14 as “hold,” and 1 as “sell.”
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The average price point forecasted by analysts for Western Digital Corporation (WDC) is $45.63, which is $11.55 above the current market price. The public float for WDC is 316.77M, and currently, short sellers hold a 2.53% ratio of that floaft. The average trading volume of WDC on March 17, 2023 was 4.70M shares.
WDC) stock’s latest price update
Western Digital Corporation (NASDAQ: WDC)’s stock price has increased by 2.76 compared to its previous closing price of 34.39. but the company has seen a -4.64% decline in its stock price over the last five trading sessions. Barron’s reported on 01/05/23 that A Merger of Western Digital and Kioxia Makes Sense, This Analyst Says. Here’s Why.
Analysts’ Opinion of WDC
The stock of Western Digital Corporation (WDC) has seen a -4.64% decrease in the past week, with a -19.02% drop in the past month, and a -2.64% decrease in the past quarter. The volatility ratio for the week is 3.94%, and the volatility levels for the past 30 days are at 2.87% for WDC. The simple moving average for the last 20 days is -8.15% for WDC stock, with a simple moving average of -13.74% for the last 200 days.
Analysts’ Opinion of WDC
Many brokerage firms have already submitted their reports for WDC stocks, with Raymond James repeating the rating for WDC by listing it as a “Outperform.” The predicted price for WDC in the upcoming period, according to Raymond James is $46 based on the research report published on March 02nd of the current year 2023.
Mizuho, on the other hand, stated in their research note that they expect to see WDC reach a price target of $50, previously predicting the price at $38. The rating they have provided for WDC stocks is “Buy” according to the report published on February 10th, 2023.
Exane BNP Paribas gave a rating of “Neutral” to WDC, setting the target price at $42 in the report published on January 23rd of the current year.
WDC Trading at -10.69% from the 50-Day Moving Average
After a stumble in the market that brought WDC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -44.14% of loss for the given period.
Volatility was left at 2.87%, however, over the last 30 days, the volatility rate increased by 3.94%, as shares sank -19.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.51% upper at present.
During the last 5 trading sessions, WDC fell by -4.64%, which changed the moving average for the period of 200-days by -43.23% in comparison to the 20-day moving average, which settled at $38.06. In addition, Western Digital Corporation saw 12.01% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at WDC starting from Zamiska Gene M., who sale 2,169 shares at the price of $40.90 back on Sep 07. After this action, Zamiska Gene M. now owns 31,554 shares of Western Digital Corporation, valued at $88,712 using the latest closing price.
Zamiska Gene M., the SVP & Princ. Acctg Officer of Western Digital Corporation, sale 4,776 shares at $63.00 during a trade that took place back on May 04, which means that Zamiska Gene M. is holding 26,719 shares at $300,888 based on the most recent closing price.
Stock Fundamentals for WDC
Current profitability levels for the company are sitting at:
- +14.52 for the present operating margin
- +32.83 for the gross margin
The net margin for Western Digital Corporation stands at +7.98. Equity return is now at value -0.80, with -0.40 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.81.
Conclusion
In a nutshell, Western Digital Corporation (WDC) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
