Western Digital Corporation Company Profile (NASDAQ:WDC)

Western Digital Corporation trades on the NASDAQ under the ticker symbol "WDC."

Western Digital Corporation declared a quarterly dividend on Thursday, August 3rd. Shareholders of record on Friday, September 29th will be given a dividend of $0.50 per share on Monday, October 16th. This represents a $2.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, September 28th. View Western Digital Corporation's Dividend History.

Western Digital Corporation (NASDAQ:WDC) issued its quarterly earnings data on Thursday, July, 27th. The company reported $2.93 earnings per share for the quarter, topping analysts' consensus estimates of $2.51 by $0.42. The company earned $4.84 billion during the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. Western Digital Corporation's revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. View Western Digital Corporation's Earnings History.

Western Digital Corporation is scheduled to release their next quarterly earnings announcement on Wednesday, October, 25th 2017. View Earnings Estimates for Western Digital Corporation.

Western Digital Corporation issued an update on its fourth quarter earnings guidance on Monday, June, 26th. The company provided earnings per share guidance of $2.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.64. The company issued revenue guidance of $4.8 billion, compared to the consensus revenue estimate of $4.81 billion.

32 brokerages have issued 1-year price targets for Western Digital Corporation's shares. Their predictions range from $56.52 to $140.00. On average, they expect Western Digital Corporation's share price to reach $113.02 in the next twelve months. View Analyst Ratings for Western Digital Corporation.

Here are some recent quotes from research analysts about Western Digital Corporation stock:

• 1. Maxim Group analysts commented, "We have been touting Tegile as a best-in-class external storage technology since 2013. Tegile compliments Amplidata building block, but success in $100B+ data center systems market will require significant incremental investments for hybrid cloud data management capabilities and sales & marketing, in our view. Despite low probability risk of losing some revenue from storage vendors, we view the acquisition of Tegile positively." (8/30/2017)
• 2. According to Zacks Investment Research, "Western Digital reported impressive fourth-quarter fiscal 2017 results. The results benefited from strong demand for both hard drive and NAND-based products from all categories of customers, largely driven by cloud and mobility based applications. The company is also significantly gaining from the synergies related to the SanDisk and HGST acquisitions. However, the company provided weak first-quarter fiscal 2018 guidance that reflects weak PC shipment as well as intensifying competition in the hard-drive disk (HDD) market. Moreover, the ongoing feud with Toshiba related to the sale of its stake in the NAND flash joint venture is a concern for Western Digital. Nevertheless, we note that Western Digital shares outperformed the industry on a year-to-date basis. We are encouraged by the company’s launch of a string of storage devices under the mobile and cloud segment, which will provide significant growth opportunity going forward." (8/2/2017)
• 3. Loop Capital analysts commented, "momentum all over the place," Baruah continued. For instance, revenue growth on an "apples to apples" basis grew 7 to 8 percent, which was "very attracted," but the company was also constrained from component shortages.In fact, Western Digital's revenue would have been even better in the quarter if it weren't for components being constrained, Baruah added. Also, the lack of any revenue upside to management's outlook could have also contributed to the stock's decline.Moreover, Western Digital's management may be "upset" with its September quarter guidance but this is a positive. The company guided its earnings per share to be in a range of $3.25 to $3.35 versus the Street's expectations of $3.22 per share."WDC felt compelled to guide the September quarter well above Street, a practice it generally dislikes and avoids if at all possible given their conservative bent; which means business is GOOD!" the analyst explained.Finally, Western Digital's cloud business is "literally ripping like never before" (7/24/2017)
• 4. Mizuho analysts commented, "We believe near-term, investors could share WDC’s concerns on its IP being shared. On the laterals, we believe it is positive for AVGO, more competitive for MU as if consummated the deal could enable Hynix be more competitive in NAND." (6/21/2017)
• 5. Benchmark Co. analysts commented, "Western Digital continues to report progress on the ramp of its 64 layer BiCS NAND Chip which along with constrained supply bode well for WDC. Company Update Rating: Buy Current Price $88.03 Price Target $135.00 52-Wk Range $40.98 – $91.00 Market Cap (B) $25.6 Enterprise Value (B) $31.8 Shares Outstanding 291,240,000 Avg. Volume (30 day) 4,190,253 Float 290,500,000 Dividend Yield % 2.27 Annual Dividend $2.00 Sector Weight Market Weight Mark Miller 925-648-2692 [email protected]/* */ FY Jun Q1 Q2 Q3 Q4 Total P/E EPS 2016A $1.56A $1.60A $1.21A $0.79A $5.16A 17.1 2017E $1.18A $2.30A $2.39A $2.62E $8.49E 10.4 2018E $3.31E $3.51E $3.24E $2.95E $13.01E 6.8 Revenue (m) 2016A $3,360A $3,317A $2,822A $3,495A $12,994A 2017E $4,714A $4,888A $4,649A $4,800E $19,051E 2018E $5,100E $5,250E $5,050E $4,850E $20,250E Western Digital Corp. (WDC) May 24, 2017 Page 2 Checks Indicate Normal Channel HDD Inventories and Continued Strong Demand for NAND Flash The June quarter has historically been the slowest quarter of the year for hard drive sales when inventories rise and pricing can slip." (5/24/2017)

Western Digital Corporation saw a increase in short interest in the month of August. As of August 31st, there was short interest totalling 7,966,067 shares, an increase of 40.6% from the August 15th total of 5,665,560 shares. Based on an average trading volume of 3,833,883 shares, the short-interest ratio is presently 2.1 days. Currently, 2.8% of the company's stock are sold short.

Some companies that are related to Western Digital Corporation include Applied Materials (AMAT), Vmware (VMW), Cognizant Technology Solutions Corporation (CTSH), Micron Technology (MU), Koninklijke Philips N.V. (PHG), NXP Semiconductors N.V. (NXPI), Intuit (INTU), Canon (CAJ), NetEase (NTES), Nokia Corporation (NOK), China Unicom (Hong Kong) Ltd (CHU), Sprint Corporation (S), Infosys Limited (INFY), HP (HPQ), Analog Devices (ADI), TE Connectivity (TEL), Lam Research Corporation (LRCX) and Infineon Technologies AG (IFNNY).

Western Digital Corporation's management team includes the folowing people:

• Matthew E. Massengill, Chairman of the Board
• Michael D. Cordano, President, Chief Operating Officer
• Stephen D. Milligan, Chief Executive Officer, Director
• Mark P. Long, Executive Vice President, Chief Financial Officer, Chief Strategy Officer
• Jacqueline M. DeMaria, Chief Human Resource Officer, Executive Vice President
• Steven Glenn Campbell, Executive Vice President, Chief Technology Officer
• Michael Charles Ray, Executive Vice President, Chief Legal Officer, Secretary
• Martin R. Fink, Chief Technology Officer
• Len J. Lauer, Lead Independent Director
• Martin I. Cole, Independent Director

Western Digital Corporation's stock is owned by many different of institutional and retail investors. Top institutional investors include Vanguard Group Inc. (10.25%), State Street Corp (4.04%), Capital World Investors (3.94%), Iridian Asset Management LLC CT (1.93%), Ameriprise Financial Inc. (1.52%) and FMR LLC (1.11%). Company insiders that own Western Digital Corporation stock include Henry T Denero, Jacqueline Demaria, Manish H Bhatia, Mark P Long, Matthew E Massengill, Michael Charles Ray, Michael D Cordano, Sanjay Mehrotra, Srinivasan Sivaram and Stephen D Milligan. View Institutional Ownership Trends for Western Digital Corporation.

Western Digital Corporation's stock was sold by a variety of institutional investors in the last quarter, including FMR LLC, FIL Ltd, Bank of New York Mellon Corp, Amerigo Asset Management, Los Angeles Capital Management & Equity Research Inc., State Street Corp, AGF Investments Inc. and Neuberger Berman Group LLC. Company insiders that have sold Western Digital Corporation stock in the last year include Henry T Denero, Jacqueline Demaria, Manish H Bhatia, Mark P Long, Matthew E Massengill, Michael Charles Ray, Michael D Cordano, Sanjay Mehrotra, Srinivasan Sivaram and Stephen D Milligan. View Insider Buying and Selling for Western Digital Corporation.

Western Digital Corporation's stock was acquired by a variety of institutional investors in the last quarter, including Capital World Investors, Vanguard Group Inc., Janus Henderson Group PLC, Schroder Investment Management Group, Discovery Capital Management LLC CT, Fred Alger Management Inc., Artemis Investment Management LLP and Ameriprise Financial Inc.. View Insider Buying and Selling for Western Digital Corporation.

Shares of Western Digital Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Western Digital Corporation stock can currently be purchased for approximately $86.48.