Is A Downturn Overdue? Western Digital Corporation (WDC), T-Mobile US, Inc. (TMUS)?

The shares of Western Digital Corporation (NASDAQ:WDC) has been pegged with a rating of Equal Weight by Barclays in its latest research note that was published on August 8th, 2019. The research company has also assigned a $53 price target. Barclays wasn’t the only research firm that published a report of Western Digital Corporation, with other equities research analysts also giving their opinion on the stock. Wedbush advised investors in its research note published on August 1st, 2019, to Neutral the WDC stock while also putting a $54.50 price target. The stock had earned Market Perform rating from Cowen when it published its report on August 1st, 2019. That day the Cowen set price target on the stock to $45. The stock was given Buy rating by Cascend Securities in its report released on July 29th, 2019, the day when the price target on the stock was placed at $68. The Benchmark Company was of a view that WDC is Sell in its latest report on July 2nd, 2019 while giving it a price target of $40. Mizuho thinks that WDC is worth Buy rating. This was contained in the firm’s report on July 1st, 2019 in which the stock’s price target was also moved to $55.

Amongst the analysts that rated the stock, 3 have recommended investors to sell it, 13 believe it has the potential for further growth, thus rating it as Hold while 7 advised investors to purchase the stock. The consensus currently stands at a Hold while its average price target is $58.90. The price of the stock the last time has raised by 64.35% from its Week high price while it is raised higher than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 61.21.

The shares of the company added by 2.64% during the trading session on Tuesday, reaching a low of $53.82 while ending the day at $55.60. During the trading session, a total of 4.61 million shares were traded which represents a 26.3% incline from the average session volume which is 6.26M shares. WDC had ended its last session trading at 54.17. Western Digital Corporation currently has a market cap of $16.57B while its P/E earnings growth sits at 1.00, with a beta of 1.87. Western Digital Corporation debt-to-equity ratio currently stands at 1.04, while its quick ratio hovers at 1.30. WDC 52-week low price stands at $33.83 while its 52-week high price is $65.79.

The company in its last quarterly report recorded $0.17 earnings per share which is below the $0.46 predicted by most analysts. The Western Digital Corporation generated $3,674.00 million in revenue during the last quarter, which is slightly lower than the $3,676.64 million predicted by analysts. In the second quarter last year, the firm recorded $1.45 earnings per share. Compared to the same quarter last year, the firm’s revenue was down by -752.94%. Western Digital Corporation has the potential to record -2.25 EPS for the current fiscal year, according to equities analysts.

Investment analysts at Guggenheim published a research note on November 1st, 2018 where it informed investors and clients that T-Mobile US, Inc. (NASDAQ:TMUS) is now rated as Buy. Wedbush also rated TMUS as Upgrade on August 1st, 2019, with its price target of $54.50 suggesting that TMUS could surge by 12.16% from its current share price. Even though the stock has been trading at $76.94/share, analysts expect it to surge higher by 0.88% to reach $88.37/share. It started the day trading at $78.26 and traded between $76.78 and $77.62 throughout the trading session.

A look at its technical shows that TMUS’s 50-day SMA is 77.17 while its 200-day SMA stands at 71.82. The stock has a high of $85.22 for the year while the low is $59.96. The company’s P/E ratio currently sits at 20.29, while the P/B ratio is 2.46. At the moment, only of T-Mobile US, Inc. shares were sold short. The company’s average trading volume currently stands at 5.48M shares, which means that the short-interest ratio is just 2.08 days. Over the past seven days, the company moved, with its shift of 0.44%. Looking further, the stock has raised 5.46% over the past 90 days while it gained 11.52% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. Fidelity Management Research Co bought more TMUS shares, increasing its portfolio by +13.62% during the last quarter. This move now sees Fidelity Management Research Co purchasing 2,872,347 shares in the last quarter, thus it now holds 23,961,187 shares of TMUS, with a total valuation of $1,910,425,440. Capital Research Management Co meanwhile bought more TMUS shares in the recently filed quarter, changing its stake to $1,416,339,666 worth of shares. The Vanguard Group Inc followed the path by increasing its TMUS portfolio by +1.39% in the quarter. This means that The Vanguard Group Inc bought 234,373 shares in the last quarter and now controls 17,126,375 shares of the TMUS stock, with the valuation hitting $1,365,485,879.

Similarly, Norges Bank Investment Management increased its T-Mobile US, Inc. shares by +33.90% during the recently filed quarter. After buying 2,469,742 shares in the last quarter, the firm now controls 9,755,575 shares of T-Mobile US, Inc. which are valued at $777,811,995. In the same vein, Invesco Capital Management LLC increased its T-Mobile US, Inc. shares by during the most recent reported quarter. The firm bought 286,014 shares during the quarter which increased its stakes to 7,828,265 shares and is now valued at $624,147,568. Following these latest developments, around 0.50% of T-Mobile US, Inc. stocks are owned by institutional investors and hedge funds.