How to Buy Western Digital Stock
Western Digital Corp
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.
Western Digital stock last closed at $72.10, down 2.7% from the previous day, and has increased 94.97% in one year. It has underperformed other stocks in the Computer Hardware industry by 0.6 percentage points. Western Digital stock is currently +102.41% from its 52-week low of $35.62, and -6.27% from its 52-week high of $76.92.
There are currently 326.52M WDC shares outstanding. The market capitalization of WDC is $23.54B. In the past 24 hours, 5.09M WDC shares were traded.
How to Buy Western Digital Stock
Wondering how to invest in Western Digital stock? Here's how.
- Decide where to buy Western Digital stock: You need to pick an online brokerage, but don't worry - we've researched dozens of online stock brokerages and apps to help you choose where to buy Western Digital stock.
- Create your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
- Put funds into your brokerage account: Select your payment method and add your info.
- Research Western Digital stock: The Western Digital ticker symbol is WDC. Is Western Digital stock a good investment? Should you buy shares of WDC? How do WDC's underlying business fundamentals look? Do top analysts think Western Digital is a good buy? Why has WDC's stock price moved recently? (Hint: Our stock market research tools can help you figure out if WDC is a good stock to buy).
- Make your WDC buy order: Decide if you will purchase WDC shares at the current market price or use a limit order to buy WDC shares at a specific price.
- Get key alerts regarding your investment in WDC: Create a watchlist to monitor your new investment in Western Digital stock.
Step 1: Decide where to buy Western Digital stock
You need an online brokerage account to access the NASDAQ market and buy WDC stock.
Our recommended brokerage: eToro
In our opinion, eToro is the best brokerage. Here's why:
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- Social investing: eToro boasts a community with more than 20 million users around the world. Talk to, learn from, and copy the unique crypto portfolios of top investors.
- Security: eToro is a regulated and licensed brokerage platform.
- Buy other assets: Such as ETFs and cryptocurrencies.
Get $10 towards your stock purchase by creating an account with eToro now.
Open eToro AccountStep 2: Create your brokerage account
Now that you've picked your brokerage, you need to fill out some personal details so you are able to invest in WDC stock today.
How to Set Up a New Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal details to open a new brokerage account.
- Submit your information by pressing the "Create Account" button. Get started with eToro today
Step 3: Put funds into your brokerage account
Now that you've created your account on the best stock app, your next step is to transfer the money for your investment:
Watch the video below if you need help transferring funds into your brokerage account.
Step 4: Research Western Digital stock
After you have chosen the best place to buy Western Digital stock, it's critical to analyze their stock prior to buying, so you truly wrap your head around the risk and opportunity.
Western Digital Metrics
WDC Overview
WallStreetZen was built to help average investors perform better fundamental analysis.
You can view all of the due diligence checks on WDC's stock page.
Is WDC stock properly valued?
You can use many financial metrics, analyses, models, and charts to gauge WDC's true value.
Using relative valuations methods:
- WDC could be undervalued based on its P/B ratio of 2.33x, relative to Computer Hardware industry P/B ratio of 14.4x
You can access more valuation analysis on WDC's stock here.
A quick look at WDC Financials
Passed Financial Due Diligence Checks:
- There are more short-term assets than short-term liabilities on the WDC balance sheet.
- WDC has cash burn of 1023000000. It has sufficient cash and short-term investments to cover this for at least one year.
- Total WDC debt is lower than 5 years ago, relative to shareholder equity.
- WDC has $1.89B in cash and short term investments. This is sufficient to cover its annual cash burn of $1.02B.
Failed Financial Due Diligence Checks:
- There are more long-term liabilities than short-term assets on the WDC balance sheet.
- WDC profit margin has gone down from -5% to -13.6% in the past year.
- WDC has a relatively high debt to equity ratio of 1.27.
Do analysts think it's a good time to buy WDC stock
Out of 18 sell side analysts who give forecasts on WDC, the consensus analyst rating on Western Digital is a Strong Buy
It's important to keep in mind that analyst ratings are not stock recommendations, nor are they financial advice.
Latest WDC Analyst Upgrades/Downgrades
Tristan Gerra, a top 16% analyst from Baird maintains WDC with a buy rating and raises their WDC price target from $65.00 to $100.00, on Apr 26, 2024.
Mark Miller, a top 4% analyst from Benchmark upgrades WDC to a strong buy rating and announces their WDC price target of $85.00, on Apr 26, 2024.
Tom O'Malley, a top 18% analyst from Barclays maintains WDC with a strong buy rating and raises their WDC price target from $70.00 to $80.00, on Apr 22, 2024.
Barclays's Tom O'Malley raised their price target on Western Digital (NASDAQ: WDC) by 14.3% from $70 to $80 on 2024/04/22. The analyst maintained their Strong Buy rating on the stock.
O'Malley predicted that Western Digital would continue to see "significant nearline" market share increases in Q4 2024 unless Seagate Technology Holdings is able to generate more substantial HAMR production.
The analyst added that Western Digital benefits from better technological placement as Seagate's delay lengthens.
Western Digital will report its Q3 22024 print on 2024/04/25.
Footnotes
HAMR is a magnetic storage technology that increases the amount of data that can be stored on a magnetic device such as a hard disk drive by temporarily heating the disk material during writing. This makes the disk material much more receptive to magnetic effects and allows writing to much smaller regions (and much higher levels of data on a disk).
Wamsi Mohan, a top 5% analyst from Bank of America maintains WDC with a strong buy rating and raises their WDC price target from $75.00 to $85.00, on Apr 17, 2024.
Timothy Arcuri, a top 2% analyst from UBS maintains WDC with a hold rating and raises their WDC price target from $65.00 to $80.00, on Apr 15, 2024.
You can dive deeper into what analysts are projecting on the Western Digital stock forecast page.
WDC Technicals
Is WDC Making Money?
Last year, WDC revenue was $11.91B. During the past five year, WDC's revenue has grown by -7.98% per year. This was slower than the Computer Hardware industry average of 11.3%.
Learn more about WDC's earnings and revenue performance here.
Are WDC insiders buying or selling the stock?
In the past 12 months, insiders at WDC have sold more shares than they have bought.
Gene M. Zamiska, SVP Princ. Acctg Officer of WDC, was the latest WDC insider to sell. They sold $33,225.00 worth of WDC shares on Apr 8, 2024.
Research more about who owns WDC shares here.
Does WDC stock generate passive income?
No, Western Digital doesn't provide an income stream by paying out dividends.
What others are saying about WDC
One of the reasons eToro is our favorite brokerage is because of its social trading community.
Click below to see what other traders have to say.
Step 5: Make your WDC buy order
You have two main types of orders:
- Market order: A market order is an order to buy or sell a stock at the best price on the market.
Market orders are generally fine for most investors. - Limit order: A limit order allows you to buy or sell a security at a specific price (or better).
If you want to ensure you're buying or selling at a given dollar amount, use a limit order.
Click the Open button and eToro will place the order.
If you require more assistance investing in stocks on eToro, watch the helpful video below:
Step 6: Get key alerts regarding your investment in WDC
Now that you own some shares in WDC, you'll want to stay up-to-date on your new company.
Start a watchlist to get notified of the latest news about your WDC stock.
WDC Feed
How to Buy Stock in Western Digital
To summarize, here are the 6 steps to buy stock in Western Digital:
- Decide where to buy Western Digital stock
- Create your brokerage account
- Put funds into your brokerage account
- Research Western Digital stock
- Make your WDC buy order
- Get key alerts regarding your investment in WDC
If you are looking for a place to buy stocks, eToro is our favorite venue.
Get Started with eToro TodayIf you want to keep tabs on your new investment in Western Digital, get started below.
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