The stock of Western Digital Corp. (WDC) has seen a 7.14% increase in the past week, with a 13.00% gain in the past month, and a 46.16% flourish in the past quarter. The volatility ratio for the week is 4.81%, and the volatility levels for the past 30 days are at 3.45% for WDC. The simple moving average for the last 20 days is 13.02% for WDC’s stock, with a simple moving average of 50.66% for the last 200 days.
Is It Worth Investing in Western Digital Corp. (NASDAQ: WDC) Right Now?
Moreover, the 36-month beta value for WDC is 1.54. Analysts have varying opinions on the stock, with 15 analysts rating it as a “buy,” 7 as “overweight,” 7 as “hold,” and 0 as “sell.”
The public float for WDC is 320.72M and currently, short sellers hold a 4.86% of that float. On April 08, 2024, WDC’s average trading volume was 7.12M shares.
WDC) stock’s latest price update
The stock of Western Digital Corp. (NASDAQ: WDC) has increased by 3.64 when compared to last closing price of 70.54.Despite this, the company has seen a gain of 7.14% in its stock price over the last five trading days. Finbold reported 2024-04-05 that While the stock market exhibits signs of slowing down, the artificial intelligence hype persists, presenting investment opportunities for traders. Among these opportunities are lesser-known names that offer significant value and potential.
Analysts’ Opinion of WDC
Many brokerage firms have already submitted their reports for WDC stocks, with Rosenblatt repeating the rating for WDC by listing it as a “Buy.” The predicted price for WDC in the upcoming period, according to Rosenblatt is $115 based on the research report published on April 05, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see WDC reach a price target of $80. The rating they have provided for WDC stocks is “Outperform” according to the report published on March 27th, 2024.
TD Cowen gave a rating of “Outperform” to WDC, setting the target price at $75 in the report published on January 26th of the current year.
WDC Trading at 20.40% 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 -2.34% of loss for the given period.
Volatility was left at 3.45%, however, over the last 30 days, the volatility rate increased by 4.81%, as shares surge +13.74% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +25.99% upper at present.
During the last 5 trading sessions, WDC rose by +7.14%, which changed the moving average for the period of 200-days by +86.89% in comparison to the 20-day moving average, which settled at $65.13. In addition, Western Digital Corp. saw 39.60% 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 Alexy Kimberly, who sale 2,648 shares at the price of $69.95 back on Apr 01 ’24. After this action, Alexy Kimberly now owns 20,509 shares of Western Digital Corp., valued at $185,228 using the latest closing price.
Zamiska Gene M., the SVP & Princ. Acctg Officer of Western Digital Corp., sale 10,768 shares at $61.31 during a trade that took place back on Mar 01 ’24, which means that Zamiska Gene M. is holding 31,401 shares at $660,223 based on the most recent closing price.
Stock Fundamentals for WDC
Current profitability levels for the company are sitting at:
- -0.17 for the present operating margin
- 0.09 for the gross margin
The net margin for Western Digital Corp. stands at -0.2. The total capital return value is set at -0.1. Equity return is now at value -20.37, with -9.14 for asset returns.
Based on Western Digital Corp. (WDC), the company’s capital structure generated 0.43 points at debt to capital in total, while cash flow to debt ratio is standing at -0.14. The debt to equity ratio resting at 0.77. The interest coverage ratio of the stock is -5.7.
Currently, EBITDA for the company is -264.0 million with net debt to EBITDA at -6.09. When we switch over and look at the enterprise to sales, we see a ratio of 2.64. The receivables turnover for the company is 7.39for trailing twelve months and the total asset turnover is 0.46. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.67.
Conclusion
To wrap up, the performance of Western Digital Corp. (WDC) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
