While Western Digital Corp has underperformed by -1.19%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, WDC rose by 29.61%, with highs and lows ranging from $81.55 to $48.96, whereas the simple moving average fell by -5.62% in the last 200 days.
On December 19, 2024, The Benchmark Company Downgraded Western Digital Corp (NASDAQ: WDC) to Hold. A report published by TD Cowen on September 13, 2024, Reiterated its previous ‘Buy’ rating for WDC. Citigroup Initiated an Buy rating on May 14, 2024, and assigned a price target of $90. The Benchmark Company April 26, 2024d its ‘Hold’ rating to ‘Buy’ for WDC, as published in its report on April 26, 2024. Rosenblatt also rated the stock as ‘Buy’.
Analysis of Western Digital Corp (WDC)
Further, the quarter-over-quarter increase in sales is 48.91%, showing a positive trend in the upcoming months.
Western Digital Corp’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of 6.17% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 0.91, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and WDC has an average volume of 5.30M. On a monthly basis, the volatility of the stock is set at 3.22%, whereas on a weekly basis, it is put at 3.28%, with a gain of 8.81% over the past seven days. Furthermore, long-term investors anticipate a median target price of $89.74, showing growth from the present price of $64.87, which can serve as yet another indication of whether WDC is worth investing in or should be passed over.
How Do You Analyze Western Digital Corp Shares?
Computer Hardware giant Western Digital Corp (WDC) is based in the USA and is one of the largest companies in the market. When comparing Western Digital Corp shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 39.60, there is a growth in quarterly earnings of 162.17%.
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.49%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 94.99% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
WDC shares are owned by institutional investors to the tune of 94.99% at present.
