Western Digital (WDC)

We reviewed Western Digital’s (WDC; $65.03; O/P) recently filed 10-K for the fiscal year ending June 28th, 2024. Most importantly, WDC did not offer up any new disclosures in the filing on its pending spin-off…

We bump up our F2025E (Jun) EPS for Western Digital (WDC; $67.05; O/P) from $8.50 to $8.70, including an annualized FQ4 rate of $10.25+, as we also initiate F2026E EPS at $11.50 (+32% YoY), vs….

Western Digital (WDC; $67.05; O/P) reported FQ4 (Jun) non-GAAP EPS of $1.44 ex-“one time” net charges of $0.56 per share, which was well ahead of our $1.15 and the Street’s $1.18. Recall, WDC’s FQ4 guidance…

We reiterate our Outperform and $100 target on the shares of Western Digital (WDC; $77.22) ahead of its FQ4 (Jun) results and outlook, which are scheduled for Wednesday, July 31st (after market). Most importantly, we…

We reiterate our Outperform on the shares of Western Digital (WDC; $76.52; O/P) and bump up our target from $95 to $100 after taking in the company’s “New Era of NAND” webcast on Monday (6/10)…

We raise our F2024/F2025E (Jun) EPS for Western Digital (WDC; $69.44; O/P) from ($1.40)/$7.25 to ($0.67)/$8.50 after FQ3 (Mar) results and guidance handily beat Street expectations on better hard disk drive shipments (HDD; 51% of…

We reiterate our Outperform on Western Digital (WDC; $72.06) and raise our target from $80 to $85 ahead of its FQ3E (Mar) results, scheduled for April 25th (after market). We recently raised our F2024/F2025E (Jun)…

We raise our F2024/F2025E (Jun) EPS for Western Digital (WDC; $63.49; O/P) from ($1.75)/$6.30 to ($1.40)/$7.25 after CEO David Goeckeler and CFO Wissam Jabre offered up a positive guidance update at an investor conference earlier…

Western Digital (WDC; $60.33; O/P) produced healthy upside to Street thinking with its FQ2 (Dec) results and outlook, which highlighted further supply discipline, incremental positives across most markets, including surprising growth in China, and solid…

Western Digital (WDC; $60.33; O/P) reported FQ2 (Dec) non-GAAP EPS losses of ($0.69) ex-“one time” net charges of $0.18 per share, which compares to our ($1.15) and the Street’s ($1.12). Sales of $3.03B were above…

This morning, Western Digital (WDC; $46.03; O/P) announced it started volume shipments of its 10-disk 24TB conventional magnetic recording (CMR) HDDs to hyperscale and enterprise customers. At the same time, WDC disclosed it started ramping…

We raise our rating on the shares of Western Digital (WDC; $41.80) from Equal-Weight to Outperform and establish a target of $52. We are encouraged by the formal announcement that WDC plans to spin-off its…

We once again reduce F2024E (Jun) EPS for Western Digital (WDC; $42.56; E/W), from a loss of ($3.90) to ($6.30) after a slightly better than expected FQ4 (Jun) was accompanied by disappointing guidance. Management seemed to…

Western Digital (WDC; $42.56; E/W) reported FQ4 (Jun) non-GAAP EPS losses of ($1.98) excluding “one time” net charges of $0.29 per share, which compares to our ($2.05) and consensus of ($2.02). Sales of $2.67B were…

We further reduce F2023/F2024E (Jun) EPS for Western Digital (WDC; $34.18; E/W) from losses of ($3.00) and ($1.15) to ($3.65) and ($3.90) after FQ4 (Jun) targets were again below Street thinking, albeit on the heels…