Western Digital Corporation develops, manufactures, and sells data storage devices and solutions worldwide. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for computing devices, such as desktop and notebook PCs, security surveillance systems, gaming consoles, and set top boxes; flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, IoT, industrial, and connected home applications; flash-based memory wafers; and embedded storage solutions and iNAND embedded flash products, such as multi-chip package solutions. The company also provides data center devices and solutions comprising enterprise helium hard drives; enterprise SSDs consisting of flash-based SSDs and software solutions for use in enterprise servers, online transactions, data analysis, and other enterprise applications; data center solutions, including HDDs and drive configurations for use in data storage systems and tiered storage models; system solutions that offer petabyte scalable capacity; and data storage platforms and systems. In addition, it offers client solution, such as external HDD storage products in mobile and desktop form; client SSDs; removable cards used in consumer devices comprising mobile phones, tablets, imaging systems, still cameras, action video cameras, and security surveillance systems; universal serial bus flash drives used in the computing and consumer markets; and wireless drive products for in-field back up of created content, as well as wireless streaming of high-definition movies, photos, music and documents to tablets, smartphones, and personal computers (PCs). The company sells its products under the HGST, SanDisk, and WD brands to original equipment manufacturers, distributors, resellers, cloud infrastructure players, and retailers. Western Digital Corporation 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 Ratio0.95
Current Ratio2.39
Quick Ratio1.73
Price-To-Earnings
Trailing P/E Ratio4.19
Forward P/E Ratio5.41
P/E Growth0.28
Sales & Book Value
Annual Sales$20.65 billion
Price / Sales0.79
Cash Flow$21.4981 per share
Price / Cash2.63
Book Value$38.53 per share
Price / Book1.47
Profitability
EPS (Most Recent Fiscal Year)$13.51
Net Income$675 million
Net Margins3.27%
Return on Equity36.35%
Return on Assets14.15%
Miscellaneous
Employees71,600
Outstanding Shares290,200,000
Market Cap$16.41 billion
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, August 1st. Stockholders of record on Friday, September 28th will be paid a dividend of $0.50 per share on Monday, October 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, September 27th. View Western Digital's Dividend History.
How will Western Digital's stock buyback program work?
Western Digital declared that its board has initiated a stock repurchase program on Thursday, July 26th 2018, which allows the company to repurchase $5,000,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to repurchase up to 22.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.
How were Western Digital's earnings last quarter?
Western Digital Corp (NASDAQ:WDC) released its earnings results on Thursday, July, 26th. The data storage provider reported $3.61 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.41. The data storage provider earned $5.12 billion during the quarter, compared to analyst estimates of $5.07 billion. Western Digital had a return on equity of 36.35% and a net margin of 3.27%. The company's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $2.93 EPS. View Western Digital's Earnings History.
When is Western Digital's next earnings date?
How can I listen to Western Digital's earnings call?
Western Digital will be holding an earnings conference call on Thursday, October 25th at 5:30 PM Eastern. Interested parties can register for or listen to the call using this link.
What guidance has Western Digital issued on next quarter's earnings?
Western Digital updated its first quarter earnings guidance on Thursday, July, 26th. The company provided earnings per share guidance of $3.00-3.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.60. The company issued revenue guidance of $5.1-5.2 billion, compared to the consensus revenue estimate of $5.40 billion.
What price target have analysts set for WDC?
27 Wall Street analysts have issued 12 month target prices for Western Digital's stock. Their forecasts range from $63.00 to $126.00. On average, they expect Western Digital's share price to reach $100.7619 in the next twelve months. This suggests a possible upside of 78.2% from the stock's current price. View Analyst Price Targets for Western Digital.
What is the consensus analysts' recommendation for Western Digital?
27 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Western Digital in the last year. There are currently 11 hold ratings and 16 buy ratings for the stock, resulting in a consensus recommendation of "Buy." 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. Guggenheim analysts commented, "We continue to estimate WDC’s EPS cycling down to ~$10 in CY19E but believe that is far better than many believe, with risk that sentiment might not trough until NAND margins do in Mar/Jun-19 (our cyclical forecast for a year now), but with today’s stock price more than discounting that." (9/17/2018)
- 2. Maxim Group analysts commented, "Consistent with our published expectations, results & guidance make clear NAND flash down-cycle now playing out due to weak smartphone unit sales." (7/27/2018)
- 3. 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)
- 4. 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)
- 5. 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)
Are investors shorting Western Digital?
Western Digital saw a increase in short interest in the month of September. As of September 28th, there was short interest totalling 11,677,784 shares, an increase of 23.1% from the September 14th total of 9,488,973 shares. Based on an average trading volume of 5,098,438 shares, the short-interest ratio is presently 2.3 days. Approximately 4.1% of the shares of the stock are short sold. View Western Digital's Current Options Chain.
Who are some of Western Digital's key competitors?
Some companies that are related to Western Digital include T-Mobile Us (TMUS), VMware (VMW), Intuit (INTU), Hon Hai Precision Industry Co., Ltd. GDR - Reg S (HNHPF), Vodafone Group (VOD), America Movil SAB de CV ADR Series L (AMX), Micron Technology (MU), Orange (ORAN), Cognizant Technology Solutions (CTSH), Infosys (INFY), Nidec (NJDCY), HP (HPQ), Koninklijke Philips (PHG), AMADEUS IT Hldg/ADR (AMADY) and MITSUBISHI Elec/ADR (MIELY).
Who are Western Digital's key executives?
Western Digital's management team includes the folowing people:
- 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)
- Mr. Michael Charles Ray, Chief Legal Officer, Exec. VP & Sec. (Age 50)
Who are Western Digital's major shareholders?
Western Digital's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include State of New Jersey Common Pension Fund D (0.48%), Bank of Montreal Can (0.29%), DNB Asset Management AS (0.19%), Strs Ohio (0.18%), Factory Mutual Insurance Co. (0.11%) and Foundry Partners LLC (0.07%). 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 Sumitomo Mitsui Asset Management Company LTD, Bank of Montreal Can, Seven Eight Capital LP, Cornerstone Wealth Management LLC, Empirical Finance LLC, Nisa Investment Advisors LLC, BB&T Corp and Aperio Group LLC. Company insiders that have sold Western Digital company stock in the last year include Henry T Denero, Kathleen A Cote, 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 acquired by a variety of institutional investors in the last quarter, including DNB Asset Management AS, State of New Jersey Common Pension Fund D, Strs Ohio, Gyroscope Capital Management Group LLC, Foundry Partners LLC, Andra AP fonden, Rothschild Investment Corp IL and Cornerstone Investment Partners 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 $56.54.
How big of a company is Western Digital?
Western Digital has a market capitalization of $16.41 billion and generates $20.65 billion in revenue each year. The data storage provider earns $675 million in net income (profit) each year or $13.51 on an earnings per share basis. Western Digital employs 71,600 workers across the globe.
What is Western Digital's official website?
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.
