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Western Digital (WDC) Stock Price, News & Analysis

Western Digital logo
$65.31
-1.71 (-2.55%)
(As of 10/31/2024 ET)

About Western Digital Stock (NASDAQ:WDC)

Key Stats

Today's Range
$65.00
$67.46
50-Day Range
$60.77
$70.46
52-Week Range
$38.43
$81.55
Volume
4.57 million shs
Average Volume
6.17 million shs
Market Capitalization
$22.58 billion
P/E Ratio
38.42
Dividend Yield
N/A
Price Target
$86.09
Consensus Rating
Moderate Buy

Company Overview

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications. The company also provides enterprise HDDs; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, online transactions, data analysis, and other enterprise applications; and data storage platforms. In addition, it offers external HDD storage products in mobile and desktop form; client portable SSDs; removable cards that are used in consumer devices comprising mobile phones, tablets, imaging systems, and cameras and smart video systems; universal serial bus flash drives for use in the computing and consumer markets; and wireless drive products used in-field backup of created content, as well as wireless streaming of high-definition movies, photos, music, and documents to tablets, smartphones, and PCs. The company sells its products under the Western Digital, SanDisk, and WD brands to original equipment manufacturers, distributors, dealers, resellers, and retailers. Western Digital Corporation was founded in 1970 and is headquartered in San Jose, California.

Western Digital Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
99th Percentile Overall Score

WDC MarketRank™: 

Western Digital scored higher than 99% of companies evaluated by MarketBeat, and ranked 15th out of 670 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Western Digital has received a consensus rating of Moderate Buy. The company's average rating score is 2.76, and is based on 16 buy ratings, 5 hold ratings, and no sell ratings.

  • Amount of Analyst Coverage

    Western Digital has been the subject of 12 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

  • Read more about Western Digital's stock forecast and price target.
  • Earnings Growth

    Earnings for Western Digital are expected to grow by 18.72% in the coming year, from $7.16 to $8.50 per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Western Digital is 38.42, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 133.70.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Western Digital is 38.42, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 266.51.

  • Price to Book Value per Share Ratio

    Western Digital has a P/B Ratio of 1.97. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

  • Read more about Western Digital's valuation and earnings.
  • Percentage of Shares Shorted

    5.18% of the outstanding shares of Western Digital have been sold short.
  • Short Interest Ratio / Days to Cover

    Western Digital has a short interest ratio ("days to cover") of 3.1, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Western Digital has recently decreased by 8.34%, indicating that investor sentiment is improving significantly.
  • Dividend Yield

    Western Digital does not currently pay a dividend.

  • Dividend Growth

    Western Digital does not have a long track record of dividend growth.

  • Dividend Coverage

    The dividend payout ratio of Western Digital is 117.65%. Payout ratios above 75% are not desirable because they may not be sustainable.

  • Dividend Sustainability

    Based on earnings estimates, Western Digital will have a dividend payout ratio of 23.53% next year. This indicates that Western Digital will be able to sustain or increase its dividend.

  • Read more about Western Digital's dividend.
  • Percentage of Shares Shorted

    5.18% of the outstanding shares of Western Digital have been sold short.
  • Short Interest Ratio / Days to Cover

    Western Digital has a short interest ratio ("days to cover") of 3.1, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Western Digital has recently decreased by 8.34%, indicating that investor sentiment is improving significantly.
  • News Sentiment

    Western Digital has a news sentiment score of 0.31. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.55 average news sentiment score of Computer and Technology companies.
  • News Coverage This Week

    MarketBeat has tracked 54 news articles for Western Digital this week, compared to 16 articles on an average week.
  • Search Interest

    41 people have searched for WDC on MarketBeat in the last 30 days. This is an increase of 52% compared to the previous 30 days.
  • MarketBeat Follows

    Only 11 people have added Western Digital to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, Western Digital insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $14,002,914.00 in company stock.

  • Percentage Held by Insiders

    Only 0.30% of the stock of Western Digital is held by insiders.

  • Percentage Held by Institutions

    92.51% of the stock of Western Digital is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

  • Read more about Western Digital's insider trading history.
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WDC Stock News Headlines

Close up of Seagate sign on the building at its operational headquarters in Fremont, California, USA - June 11, 2023. Seagate Technology Holdings plc is an American data storage company. — Stock Editorial Photography
Seagate: 4 Reasons to Buy-the-Dip on the Sell-the-News Reaction (WDC)
Seagate Technology (NASDAQ: STX) reported a fiscal Q1 2025 top and bottom line beat, but the stock sold off 8% on in-line guidance.
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Western Digital Co. (NASDAQ:WDC) SVP Sells $139,390.42 in Stock
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Cloud Growth and AI: DigitalOcean's Winning Formula Explained (WDC)
DigitalOcean is poised for growth with its cloud and AI services, offering scalable, cost-effective infrastructure. Learn why it’s a strong stock to watch.
Wedbush Reaffirms Outperform Rating for Western Digital (NASDAQ:WDC)
Western Digital (NASDAQ:WDC) PT Raised to $95.00 at Cantor Fitzgerald
See More Headlines

WDC Stock Analysis - Frequently Asked Questions

Western Digital's stock was trading at $52.37 on January 1st, 2024. Since then, WDC shares have increased by 24.7% and is now trading at $65.31.
View the best growth stocks for 2024 here
.

Western Digital Co. (NASDAQ:WDC) released its quarterly earnings data on Thursday, October, 24th. The data storage provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.23. The business's revenue for the quarter was up 48.9% on a year-over-year basis.
Read the conference call transcript
.

The following companies are subsidiaries of Western Digital: Kioxia, Kazan Networks, Tegile Systems, Upthere, SanDisk, Stec's, Virident Systems, and others.

Top institutional investors of Western Digital include Artemis Investment Management LLP (0.42%), National Pension Service (0.25%), Portman Square Capital LLP and Principal Financial Group Inc. (0.11%). Insiders that own company stock include David Goeckeler, Robert Soderbery, Gene M Zamiska, Kimberly Alexy, Srinivasan Sivaram and Paula A Price.
View institutional ownership trends
.

Shares of WDC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that Western Digital investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Tesla (TSLA), Netflix (NFLX), Visa (V) and JPMorgan Chase & Co. (JPM).

Company Calendar

Last Earnings
10/24/2024
Today
10/31/2024
Next Earnings (Estimated)
1/23/2025
Fiscal Year End
6/30/2025

Industry, Sector and Symbol

Industry
Computer storage devices
Sub-Industry
Computer Storage & Peripherals
Current Symbol
NASDAQ:WDC
CUSIP
95810210
Employees
51,000
Year Founded
1970

Price Target and Rating

Average Stock Price Target
$87.71
High Stock Price Target
$115.00
Low Stock Price Target
$65.00
Potential Upside/Downside
+30.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.77
Research Coverage
21 Analysts

Profitability

Net Income
$-798,000,000.00
Pretax Margin
4.52%

Debt

Sales & Book Value

Annual Sales
$14.35 billion
Cash Flow
$0.82 per share
Book Value
$33.13 per share

Miscellaneous

Free Float
344,637,000
Market Cap
$22.82 billion
Optionable
Optionable
Beta
1.39

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This page (NASDAQ:WDC) was last updated on 10/31/2024 by MarketBeat.com Staff
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