Currently, there are 322.00M common shares owned by the public and among those 320.73M shares have been available to trade.
The company’s stock has a 5-day price change of 9.56% and 24.05% over the past three months. WDC shares are trading 24.08% year to date (YTD), with the 12-month market performance up to 84.24% higher. It has a 12-month low price of $31.97 and touched a high of $66.00 over the same period. WDC has an average intraday trading volume of 6.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.56%, 11.52%, and 37.13% respectively.
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Institutional ownership of Western Digital Corp. (NASDAQ: WDC) shares accounts for 93.27% of the company’s 322.00M shares outstanding.
It has a market capitalization of $21.17B and a beta (3y monthly) value of 1.55. The earnings-per-share (ttm) stands at -$7.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.02% over the week and 3.00% over the month.
Analysts forecast that Western Digital Corp. (WDC) will achieve an EPS of $0.15 for the current quarter, $0.71 for the next quarter and $6.06 for 2025. The lowest estimate earnings-per-share for the quarter is $0.04 while analysts give the company a high EPS estimate of $0.3. Comparatively, EPS for the current quarter was -$1.37 a year ago. Earnings per share for the fiscal year are expected to increase by 56.07%, and 490.24% over the next financial year.
Looking at the support for the WDC, a number of firms have released research notes about the stock. TD Cowen stated their Outperform rating for the stock in a research note on January 26, 2024, with the firm’s price target at $50-$75. Cantor Fitzgerald coverage for the Western Digital Corp. (WDC) stock in a research note released on January 23, 2024 offered a Overweight rating with a price target of $70. Morgan Stanley was of a view on January 22, 2024 that the stock is Overweight, while Deutsche Bank gave the stock Buy rating on January 16, 2024, issuing a price target of $45- $65. Barclays on their part issued Overweight rating on January 16, 2024.
