Western Digital Corporation Company Profile (NASDAQ:WDC)

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

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

Western Digital Corporation (NASDAQ:WDC) released its quarterly earnings data on Thursday, July, 27th. The company reported $2.93 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The company's revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. 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.

32 brokerages have issued 12 month price objectives for Western Digital Corporation's stock. Their predictions range from $56.52 to $140.00. On average, they anticipate Western Digital Corporation's stock 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. According to Zacks Investment Research, "Western Digital 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, Toshiba's decision to divest its stake in the NAND flash joint venture to Bain-capital led consortium is expected hurt shares, which have outperformed the industry on a year-to-date basis. However, the company is benefiting from strong demand for both hard drive and NAND-based products from all categories of customers, largely driven by cloud and mobility based applications." (9/26/2017)
• 2. 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)
• 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 short sold.

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

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 a variety of of retail and institutional investors. Top institutional shareholders 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.