Western Digital Corp. (NASDAQ: WDC) Seen Running Too Hot, Let’s Look At This More Closely

Currently, there are 343.00M common shares owned by the public and among those 338.41M shares have been available to trade.

The company’s stock has a 5-day price change of -0.88% and -17.53% over the past three months. WDC shares are trading 26.35% year to date (YTD), with the 12-month market performance up to 42.61% higher. It has a 12-month low price of $35.62 and touched a high of $81.55 over the same period. WDC has an average intraday trading volume of 5.80 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 -0.08%, 3.81%, and 0.64% respectively.

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Institutional ownership of Western Digital Corp. (NASDAQ: WDC) shares accounts for 97.75% of the company’s 343.00M shares outstanding.

It has a market capitalization of $22.73B and a beta (3y monthly) value of 1.39. The earnings-per-share (ttm) stands at -$1.88. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.45% over the week and 2.62% over the month.

Earnings per share for the fiscal year are expected to increase by 4016.93%, and 16.79% over the next financial year. EPS should shrink at an annualized rate of -10.00% over the next five years, compared to -0.24% over the past 5-year period.

Looking at the support for the WDC, a number of firms have released research notes about the stock. TD Cowen stated their Buy rating for the stock in a research note on September 13, 2024, with the firm’s price target at $95-$80. Citigroup was of a view on May 14, 2024 that the stock is Buy, while The Benchmark Company gave the stock Buy rating on April 26, 2024, issuing a price target of $85. Raymond James on their part issued Mkt Perform rating on April 22, 2024.

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