About Western Digital (NASDAQ:WDC)
Western Digital Corporation, together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide. It offers performance hard disk drives (HDDs) that are used in enterprise servers, data analysis, and other enterprise applications; capacity HDDs and drive configurations for use in data storage systems and tiered storage models; and enterprise solid state drives (SSDs), including NAND-flash SSDs and software solutions that are designed to enhance the performance in various enterprise workload environments. The company also provides system solutions that offer petabyte scalable capacity; data storage platforms and systems; datacenter software and systems; and HDDs and SSDs for desktop and notebook PCs, gaming consoles, security surveillance systems, and set top boxes. In addition, it offers NAND-flash embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, automotive, IoT, and connected home applications; NAND-flash memory wafers; and custom embedded solutions and iNAND embedded flash products, such as multi-chip package solutions that combine NAND-flash and mobile dynamic random-access memory in an integrated package. Further, it provides client solutions that consist of HDDs and SSDs embedded into external storage products; removable cards for use in mobile phones, tablets, imaging systems, still cameras, action video cameras, and security surveillance systems; USB flash drives used in computing and consumer markets; and wireless drive products. Additionally, the company licenses its intellectual property. It sells its products under the HGST, SanDisk, and WD brands to original equipment manufacturers (OEMs), distributors, resellers, cloud infrastructure players, and retailers. It serves storage subsystem suppliers, OEMs, Internet and social media infrastructure players, and PC and Mac OEMs. The company was founded in 1970 and is headquartered in San Jose, California.
Industry, Sector and Symbol
Industry Computer storage devices
Sub-IndustryComputer Storage & Peripherals
SectorComputer and Technology
SymbolNASDAQ:WDC
CUSIP95810210
Phone408-717-6000
Debt
Debt-to-Equity Ratio0.98
Current Ratio2.39
Quick Ratio1.76
Price-To-Earnings
Trailing P/E Ratio10.16
Forward P/E Ratio5.99
P/E Growth0.32
Sales & Book Value
Annual Sales$19.09 billion
Price / Sales1.26
Cash Flow$16.2490 per share
Price / Cash4.94
Book Value$39.20 per share
Price / Book2.05
Profitability
EPS (Most Recent Fiscal Year)$7.90
Net Income$397 million
Net Margins0.98%
Return on Equity34.22%
Return on Assets13.22%
Miscellaneous
Employees68,000
Outstanding Shares299,240,000
Western Digital (NASDAQ:WDC) Frequently Asked Questions
What is Western Digital's stock symbol?
Western Digital trades on the NASDAQ under the ticker symbol "WDC."
How often does Western Digital pay dividends? What is the dividend yield for Western Digital?
Western Digital declared a quarterly dividend on Wednesday, May 2nd. Shareholders of record on Friday, June 29th will be paid a dividend of $0.50 per share on Monday, July 16th. This represents a $2.00 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 28th. View Western Digital's Dividend History.
How will Western Digital's stock buyback program work?
Western Digital declared that its Board of Directors has authorized a share repurchase program on Saturday, November 11th 2017, which permits the company to buyback $2,100,000,000.00 in shares, according to EventVestor. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its shares are undervalued.
How were Western Digital's earnings last quarter?
Western Digital Corp (NASDAQ:WDC) released its quarterly earnings data on Thursday, April, 26th. The data storage provider reported $3.63 EPS for the quarter, beating the consensus estimate of $3.31 by $0.32. The data storage provider earned $5.01 billion during the quarter, compared to analysts' expectations of $4.93 billion. Western Digital had a net margin of 0.98% and a return on equity of 34.22%. Western Digital's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.39 earnings per share. View Western Digital's Earnings History.
When is Western Digital's next earnings date?
What guidance has Western Digital issued on next quarter's earnings?
Western Digital updated its fourth quarter earnings guidance on Thursday, April, 26th. The company provided EPS guidance of $3.40-3.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.31. The company issued revenue guidance of $5.00-5.10 billion, compared to the consensus revenue estimate of $5.05 billion.
What price target have analysts set for WDC?
29 analysts have issued twelve-month target prices for Western Digital's stock. Their forecasts range from $80.00 to $150.00. On average, they expect Western Digital's stock price to reach $111.9615 in the next year. View Analyst Ratings for Western Digital.
What are Wall Street analysts saying about Western Digital stock?
Here are some recent quotes from research analysts about Western Digital stock:
- 1. Mizuho analysts commented, "We believe WDC remains well-positioned with good GMs, MAMR HDD ramping, the transition from 64L to 96L 3D NAND and an attractive valuation. No change to estimates; reiterating our Buy rating and $110 PT." (5/16/2018)
- 2. BTIG Research analysts commented, "WDC’s business continues to operate like a finely tuned machine. The demand environment for digital storage continues to be robust, margins remain elevated, the balance sheet continues to improve, and WDC continues to generate ample cash and post earnings upside. To the latter point, F18 EPS will likely end up being in striking distance of $15, capping off 18 months of upward revisions to consensus estimates that started at $6.00. However, for 12 of those months, the stock has been range bound, as each near-term earnings boost has been seen as a can-kick of the inevitable “normalization” (CEO Milligan’s words, not ours) of supply/demand dynamics. This surely will sound euphemistic to investors, in part because there is such disagreement as to whether or not we are in a New Normal (to what exactly are we normalizing?). Regardless, the truth is that growth in shipments and erosion of ASPs doesn’t spell doom for margins and can be a good thing in an elastic market, especially as cost declines from technology leadership will mitigate volatility. While sentiment continues to be concerned about what’s over the next hill, we remain convinced that “normalization” doesn’t change the fact that supply continues to face constraints while demand drivers continue to diversify." (4/29/2018)
- 3. Maxim Group analysts commented, "COLM reported much stronger-than-expected Q1 results with adj. EPS of 77c handily beating our 56c estimate and 58c consensus. This was a high-quality beat with revenue (+10.2%), gross margin (+108bps), and SG&A (150bps leverage) all exceeding our expectations. Revenue beat internal expectations by $17-$18M (or ~2%) with the outperformance driven by US DTC, favorable weather, reorders, and FX. Not surprisingly, with channel inventories very clean exiting the season, the fall ’18 order book is up significantly (stronger than COLM anticipated three months ago) with momentum across most categories and regions. We are also encouraged by the traction Columbia’s spring product line (e.g. sun deflector technology, new trail product, PFG footwear) and Sorel’s (e.g. Kinetic line, Joanie and Ella sandals) is generating. On the operational front, the company is making progress on its strategic initiatives, including Project Connect and Consumer-First technology initiative, the latter of which entails a global retail ERP system rollout. In addition, the company will be launching a new Experience-First initiative (X1) with the intention of upgrading its e-commerce platform to enhance search, browsing, checkout, loyalty, and customer care on mobile devices. As such, COLM is accelerating $10M of investments behind these initiatives in 2H18 that will offset some of the benefit resulting from the upward revision to full-year revenue outlook. The company is now projecting 2018 revenue growth of +6.5%-8.5% (+4%-6% previously) and adj. EPS of $3.27-$3.37. While we commend the company for solid execution, strong Q1 results and raised guidance, we believe current valuation (~25x NTM P/E and 13.5x EV/EBITDA) adequately reflects the risk/reward. We maintain our HOLD." (4/27/2018)
- 4. According to Zacks Investment Research, "Western Digital is one of the largest hard disk drive (HDD) producers in the U.S. The company's healthy demand in its end-markets for high capacity enterprise hard drives and flash-based products are positives. Further, the ongoing transformation to 3D NAND technology is also driving top-line growth. We note that the company is gaining from strong demand for both hard drive and NAND-based products from all categories of customers, largely driven by cloud and mobility based applications. Moreover, the acquisitions of Upthere and Tegile Systems will help the company in expanding its presence with a wider range of products and solutions. " (3/30/2018)
- 5. Guggenheim analysts commented, "We expect meaningfully lower interest expense following WDC’s recent debt refinacing, which increases our annual EPS estimates by +$0.83, and reflects rapid deleveraging since its acquisition of SNDK back in mid-2016. Reiterate BUY and $125 price target." (2/1/2018)
Are investors shorting Western Digital?
Western Digital saw a increase in short interest in the month of May. As of May 15th, there was short interest totalling 8,445,345 shares, an increase of 41.1% from the April 30th total of 5,983,399 shares. Based on an average daily volume of 4,432,740 shares, the days-to-cover ratio is presently 1.9 days. Approximately 2.9% of the shares of the company are sold short.
Who are some of Western Digital's key competitors?
Who are Western Digital's key executives?
Western Digital's management team includes the folowing people:
- Mr. Matthew E. Massengill, Chairman (Age 57)
- Mr. Stephen D. Milligan, CEO & Director (Age 55)
- Mr. Michael D. Cordano, Pres & COO (Age 54)
- Mr. Mark Patrick Long, CFO & Chief Strategy Officer (Age 51)
- Mr. Martin R. Fink, CTO & Exec. VP (Age 53)
Has Western Digital been receiving favorable news coverage?
Media coverage about WDC stock has trended somewhat positive on Monday, according to Accern Sentiment. The research group identifies negative and positive press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Western Digital earned a news impact score of 0.05 on Accern's scale. They also assigned media coverage about the data storage provider an impact score of 47.46 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock's share price in the next several days.
Who are Western Digital's major shareholders?
Western Digital's stock is owned by many different of retail and institutional investors. Top institutional investors include Iridian Asset Management LLC CT (2.01%), Northern Trust Corp (1.13%), LSV Asset Management (1.09%), Dimensional Fund Advisors LP (1.01%), Neuberger Berman Group LLC (0.96%) and Amerigo Asset Management (0.87%). Company insiders that own Western Digital stock include Henry T Denero, Jacqueline Demaria, Kathleen A Cote, Manish H Bhatia, Mark P Long, Matthew E Massengill, Michael Charles Ray, Michael D Cordano, Michael D Lambert, Paula A Price, Sanjay Mehrotra, Srinivasan Sivaram and Stephen D Milligan. View Institutional Ownership Trends for Western Digital.
Which institutional investors are selling Western Digital stock?
WDC stock was sold by a variety of institutional investors in the last quarter, including Thompson Siegel & Walmsley LLC, OppenheimerFunds Inc., Lord Abbett & CO. LLC, Millennium Management LLC, JPMorgan Chase & Co., Swiss National Bank, Sumitomo Mitsui Trust Holdings Inc. and Zurcher Kantonalbank Zurich Cantonalbank. Company insiders that have sold Western Digital company stock in the last year include Henry T Denero, Jacqueline Demaria, Kathleen A Cote, Manish H Bhatia, Mark P Long, Matthew E Massengill, Michael Charles Ray, Michael D Cordano, Michael D Lambert, Paula A Price, Srinivasan Sivaram and Stephen D Milligan. View Insider Buying and Selling for Western Digital.
Which institutional investors are buying Western Digital stock?
WDC stock was bought by a variety of institutional investors in the last quarter, including Amerigo Asset Management, Summit Trail Advisors LLC, Mackay Shields LLC, TCW Group Inc., Prudential Financial Inc., Cavalry Management Group LLC, Federated Investors Inc. PA and US Bancorp DE. View Insider Buying and Selling for Western Digital.
How do I buy shares of Western Digital?
Shares of WDC can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Western Digital's stock price today?
One share of WDC stock can currently be purchased for approximately $80.27.
How big of a company is Western Digital?
Western Digital has a market capitalization of $24.12 billion and generates $19.09 billion in revenue each year. The data storage provider earns $397 million in net income (profit) each year or $7.90 on an earnings per share basis. Western Digital employs 68,000 workers across the globe.
How can I contact Western Digital?
Western Digital's mailing address is 5601 GREAT OAKS PARKWAY, SAN JOSE CA, 95119. The data storage provider can be reached via phone at 408-717-6000 or via email at [email protected]
MarketBeat Community Rating for Western Digital (WDC)
MarketBeat's community ratings are surveys of what our community members think about Western Digital and other stocks. Vote "Outperform" if you believe WDC will outperform the S&P 500 over the long term. Vote "Underperform" if you believe WDC will underperform the S&P 500 over the long term. You may vote once every thirty days.
