Why Western Digital Corporation (NASDAQ:WDC) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $60.4000 on Western Digital Corporation (NASDAQ:WDC) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $4.2500 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Western Digital Corporation (NASDAQ:WDC) stands at 41.6508.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Western Digital Corporation, the PEG ratio for coming 3-5 years is 11.4800.

Technical Analysis

The technical analysis highlights that Western Digital Corporation current is trading $-4.1704 points away or -8.6307% from its 50-day moving average of $48.3203. Further it is trading $-1.2984 or -2.8569% away its 200-day moving average of $45.4483.

The 52-week high of Western Digital Corporation (NASDAQ:WDC) was $86.3900 while lowest point recorded in 52-week was $34.9900. It implies if stock price makes a movement of over $-42.2401, it will record a new 52-week high. In the case of +26.1786% drop, it will touch a new 52-week low.

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