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
Stock Exchange NASDAQ
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 Ratio9.99
Forward P/E Ratio5.89
P/E Growth0.33
Sales & Book Value
Annual Sales$19.09 billion
Price / Sales1.24
Cash Flow$16.2197 per share
Price / Cash4.87
Book Value$39.20 per share
Price / Book2.02
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
Market Cap$23,795.72
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 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date 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 has initiated a share repurchase program on Saturday, November 11th 2017, which allows the company to buyback $2,100,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
How were Western Digital's earnings last quarter?
Western Digital Corp (NASDAQ:WDC) posted its quarterly earnings results on Thursday, April, 26th. The data storage provider reported $3.63 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $3.31 by $0.32. The data storage provider had revenue of $5.01 billion for 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%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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 issued an update on 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 EPS 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 1-year price targets for Western Digital's shares. Their predictions range from $80.00 to $150.00. On average, they expect Western Digital's stock price to reach $110.04 in the next year. This suggests a possible upside of 39.3% from the stock's current price. View Analyst Ratings for Western Digital.
What is the consensus analysts' recommendation for Western Digital?
29 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Western Digital in the last year. There are currently 8 hold ratings and 21 buy ratings for the stock, resulting in a consensus recommendation of "Buy."
What are Wall Street analysts saying about Western Digital stock?
Here are some recent quotes from research analysts about Western Digital stock:
- 1. According to Zacks Investment Research, "Western Digital continues to benefit from strong demand for the company’s high capacity enterprise hard drives and flash-based products. Moreover, increasing demand for data center devices and cloud solutions remains a key catalyst. Further, the company has started deploying 64-layer 3D NAND technology across its product portfolio and is expected to ramp up its 96-layer technology throughout the year. Western Digital expects the demand for high and mid-range capacity drives and increasing capacity of smartphones to support the higher rate of exabyte consumption in calendar year 2018. Further, the acquisitions of Upthere and Tegile Systems are helping the company in expanding its presence with a wider range of products and solutions. However, stiff competition from Seagate, Hitachi, Samsung and Intel in the storage coupled with pricing pressure remains headwind. Notably, shares of the company have underperformed the industry in past one year." (7/17/2018)
- 2. 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)
- 3. 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)
- 4. 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)
- 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 decrease in short interest during the month of June. As of June 15th, there was short interest totalling 7,882,800 shares, a decrease of 12.4% from the May 31st total of 9,001,168 shares. Based on an average daily trading volume, of 4,461,083 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.7% of the shares of the company are short sold. View Western Digital's Current Options Chain.
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 Tuesday, Accern reports. The research group identifies negative and positive media 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 positive one, with scores closest to one being the most favorable. Western Digital earned a media sentiment score of 0.13 on Accern's scale. They also assigned headlines about the data storage provider an impact score of 46.31 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company's share price in the next several days.
Who are Western Digital's major shareholders?
Western Digital's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include Bank of Montreal Can (0.40%), Miller Howard Investments Inc. NY (0.29%), Nexus Investment Management Inc. (0.08%), Retirement Systems of Alabama (0.05%), Howard Capital Management Inc. (0.05%) and Daiwa SB Investments Ltd. (0.04%). 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 Cornerstone Investment Partners LLC, Bank of Montreal Can, NN Investment Partners Holdings N.V., DnB Asset Management AS, Meag Munich Ergo Kapitalanlagegesellschaft MBH, Miller Howard Investments Inc. NY, Empirical Finance LLC and BLB&B Advisors LLC. 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 purchased by a variety of institutional investors in the last quarter, including Howard Capital Management Inc., Daiwa SB Investments Ltd., Manning & Napier Group LLC, Clinton Group Inc., CX Institutional, Xact Kapitalforvaltning AB, IFM Investors Pty Ltd and XR Securities LLC. 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 $78.99.
How big of a company is Western Digital?
Western Digital has a market capitalization of $23.80 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 (NASDAQ 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.
