12 analysts have expressed a variety of opinions on Western Digital WDC over the past quarter, offering a diverse set of opinions from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 6 | 5 | 1 | 0 | 0 |
| Last 30D | 1 | 0 | 0 | 0 | 0 |
| 1M Ago | 2 | 1 | 0 | 0 | 0 |
| 2M Ago | 2 | 2 | 1 | 0 | 0 |
| 3M Ago | 1 | 2 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $90.33, with a high estimate of $115.00 and a low estimate of $75.00. This current average represents a 1.01% decrease from the previous average price target of $91.25.
Investigating Analyst Ratings: An Elaborate Study
A comprehensive examination of how financial experts perceive Western Digital is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Mark Miller | Benchmark | Maintains | Buy | $92.00 | $92.00 |
| Karl Ackerman | TD Cowen | Lowers | Buy | $80.00 | $95.00 |
| Asiya Merchant | Citigroup | Lowers | Buy | $85.00 | $95.00 |
| C J Muse | Cantor Fitzgerald | Maintains | Overweight | $80.00 | $80.00 |
| Amit Daryanani | Evercore ISI Group | Maintains | Outperform | $85.00 | $85.00 |
| Medhi Hosseini | Susquehanna | Lowers | Neutral | $75.00 | $88.00 |
| Mark Miller | Benchmark | Raises | Buy | $92.00 | $85.00 |
| C J Muse | Cantor Fitzgerald | Maintains | Overweight | $100.00 | $100.00 |
| Kevin Cassidy | Rosenblatt | Maintains | Buy | $115.00 | $115.00 |
| Matt Bryson | Wedbush | Raises | Outperform | $95.00 | $85.00 |
| Amit Daryanani | Evercore ISI Group | Raises | Outperform | $90.00 | $85.00 |
| Asiya Merchant | Citigroup | Raises | Buy | $95.00 | $90.00 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Western Digital. This insight gives a snapshot of analysts' perspectives on the current state of the company.
- Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Western Digital compared to the broader market.
- Price Targets: Delving into movements, analysts provide estimates for the future value of Western Digital's stock. This analysis reveals shifts in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Western Digital's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Western Digital analyst ratings.
Delving into Western Digital's Background
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
Financial Insights: Western Digital
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Western Digital's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 40.87%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Western Digital's net margin excels beyond industry benchmarks, reaching 0.77%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of 0.28%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Western Digital's ROA stands out, surpassing industry averages. With an impressive ROA of 0.12%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Western Digital's debt-to-equity ratio is below the industry average. With a ratio of 0.69, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
The Basics of Analyst Ratings
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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