Western Digital (WDC, Financial) experienced a significant stock surge, rising by 5.00% and reaching $69.75 per share. The trading volume hit 2.87725 million shares, with a turnover rate of 0.83% and a volatility of 3.94%.
The company's recent financial report shows impressive results, with revenue at $4.095 billion and a net profit of $493 million, translating to earnings per share of $1.40. The gross profit was reported at $1.612 billion, and the price-to-earnings ratio stood at 76.56.
In terms of analyst ratings, 77% of the 26 institutions covering the stock recommend buying, while 23% suggest holding. No institution has issued a sell recommendation.
Within the computer hardware industry, where Western Digital operates, the overall sector experienced a decline of 1.10%. However, related stocks such as Quantum and Rigetti Computing, Inc. showed significant gains and activity. Notably, Quantum had a turnover rate of 541.12% and a volatility of 156.41%.
Western Digital is a leading provider of vertically integrated data storage solutions, including hard disk drives and solid-state drives. It holds a dominant position in the hard drive market alongside Seagate and is the largest producer of NAND flash memory chips for SSDs through a joint venture with Kioxia.
