Western Digital Corp. (NASDAQ: WDC)’s stock price has soared by 1.76 in relation to previous closing price of 69.72. Nevertheless, the company has seen a loss of -0.57% in its stock price over the last five trading days. Zacks Investment Research reported 2024-05-03 that Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock’s price, do they really matter?
Is It Worth Investing in Western Digital Corp. (NASDAQ: WDC) Right Now?
WDC has 36-month beta value of 1.44. Analysts have mixed views 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 321.99M, and currently, short sellers hold a 5.88% ratio of that float. The average trading volume of WDC on May 06, 2024 was 6.83M shares.
WDC’s Market Performance
WDC’s stock has seen a -0.57% decrease for the week, with a 0.58% rise in the past month and a 21.99% gain in the past quarter. The volatility ratio for the week is 3.95%, and the volatility levels for the past 30 days are at 4.48% for Western Digital Corp.. The simple moving average for the past 20 days is 0.55% for WDC’s stock, with a 37.09% simple moving average for the past 200 days.
Analysts’ Opinion of WDC
Many brokerage firms have already submitted their reports for WDC stocks, with The Benchmark Company repeating the rating for WDC by listing it as a “Buy.” The predicted price for WDC in the upcoming period, according to The Benchmark Company is $85 based on the research report published on April 26, 2024 of the current year 2024.
Rosenblatt gave a rating of “Buy” to WDC, setting the target price at $115 in the report published on April 05th of the current year.
WDC Trading at 7.34% 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 -7.76% of loss for the given period.
Volatility was left at 4.48%, however, over the last 30 days, the volatility rate increased by 3.95%, as shares sank -2.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +27.38% upper at present.
During the last 5 trading sessions, WDC fell by -0.57%, which changed the moving average for the period of 200-days by +82.25% in comparison to the 20-day moving average, which settled at $70.45. In addition, Western Digital Corp. saw 35.48% 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 443 shares at the price of $75.00 back on Apr 08 ’24. After this action, Zamiska Gene M. now owns 30,958 shares of Western Digital Corp., valued at $33,225 using the latest closing price.
Alexy Kimberly, the Director of Western Digital Corp., sale 2,648 shares at $69.95 during a trade that took place back on Apr 01 ’24, which means that Alexy Kimberly is holding 20,509 shares at $185,228 based on the most recent closing price.
Stock Fundamentals for WDC
Current profitability levels for the company are sitting at:
- -0.1 for the present operating margin
- 0.14 for the gross margin
The net margin for Western Digital Corp. stands at -0.13. The total capital return value is set at -0.06. Equity return is now at value -14.28, with -6.34 for asset returns.
Based on Western Digital Corp. (WDC), the company’s capital structure generated 0.46 points at debt to capital in total, while cash flow to debt ratio is standing at -0.08. The debt to equity ratio resting at 0.86. The interest coverage ratio of the stock is -3.02.
Currently, EBITDA for the company is -264.0 million with net debt to EBITDA at -23.31. When we switch over and look at the enterprise to sales, we see a ratio of 2.55. The receivables turnover for the company is 6.62for trailing twelve months and the total asset turnover is 0.5. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.86.
Conclusion
To put it simply, Western Digital Corp. (WDC) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
