Raymond James raised the price target for the Western Digital Corp. (NASDAQ:WDC) stock from “an Outperform” to “a Mkt perform”. The rating was released on April 22, 2024, according to finviz. We previously noted in another research note published on April 05, 2024 by Rosenblatt that upgraded the stock from a Neutral to a Buy with a price target of $115 for WDC stock. The research report from Evercore ISI has initiated the stock to Outperform, with a price target set at $80. The stock was reiterated by TD Cowen, who disclosed in a research note on January 26, 2024, to Outperform and set the price objective to $75. In their research brief published January 23, 2024, Cantor Fitzgerald analysts initiated the Western Digital Corp. stock to Overweight with a price target of $70.
The latest trade, Performances and Moving Averages give us the following Picture
The firm’s stock price fluctuated -1.60% within the last five trades and 9.35% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 63.14% in the last 6 months and 21.12% was added to its value over the previous 3 months. WDC stock is trading at a margin of -0.17%, 9.70% and 38.47% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
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As of the close of trading, WDC deals in the Technology domain. The stock is trading -9.10 percent below its 52-week high and 118.71 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 107.5. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Western Digital Corp.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at -12.95 percent and the profit margin is -20.54 percent, and the company has reported a gross margin of 10.92 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $22.81 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 9.98. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 2.03 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 2.26, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 1.38 percent of Western Digital Corp. shares are owned by insiders, and 93.57 percent are held by financial institutions. Zamiska Gene M., the SVP & Princ. Acctg Officer at Western Digital Corp. (WDC) has sold 443 shares of firm on Apr 08 ’24 at a price of $75.00 against the total amount of $33225.0. In another inside trade, Alexy Kimberly, Director of Western Digital Corp. (NASDAQ:WDC) sold 2,648 shares of the firm on Apr 01 ’24 for a total worth of $0.19 million at a price of $69.95. An inside trade which took place on Mar 01 ’24, SVP & Princ. Acctg Officer of Western Digital Corp. Zamiska Gene M. sold 10,768 shares of firm against total price of $0.66 million at the cost of $61.31 per share.
