Western Digital (WDC)

We are raising our F2026E (Jun) EPS for Western Digital (WDC; $71.43; O/P) from $5.80 to $6.70 (+35% YoY) after the company produced a healthy FQ4 (Jun) “beat and raise” that we think further highlighted…

We reiterate our Outperform on Western Digital (WDC; $68.37) and raise our target from $70 to $80 ahead of its FQ4E (Jun) results and outlook, scheduled for Wednesday, July 30th (after market). We note the…

Last night, Sandisk (SNDK; $39.82; E/W) announced that it was launching a secondary public offering of 17mm shares of its common stock that are currently owned by Western Digital (WDC; $54.43; O/P), which should not…

Earlier this week, Western Digital (WDC; $51.47; O/P) announced, as part of its attendance at the COMPUTEX trade show in Taiwan, a new set of product innovations aimed at “retooling” its Platforms business. Recall, WDC…

This morning, Western Digital (WDC; $46.57; O/P) announced that its Board authorized a new $2B share repurchase program that is effective immediately and equates to 12% of the company’s market capitalization. We are not surprised…

Last night, Western Digital (WDC; $44.30; O/P) announced that it appointed Kris Sennesael as CFO (effective May 12th). Recall, the company appointed Don Bennett as interim CFO back in February after WDC’s former CFO Wissam…

We reiterate our Outperform on the shares of Western Digital (WDC; $43.86) and raise F2025/F2026E (Jun) EPS from $4.27/$5.45 to $4.75/$5.80 after the company produced a healthy FQ3 (Mar) “beat and raise” that further demonstrated…

We think Western Digital (WDC; $35.62; O/P) has another chance to “strike a new chord” with investors through its upcoming FQ3 (Mar) results and guidance, scheduled for April 30th (before market), after successfully completing the…

We think the 27% decline in the shares of Westen Digital (WDC; $49.02; O/P) over the past 11 days has more than accounts for the long-awaited separation of Sandisk (SNDK; $48.60; NR) into a now…

Yesterday (2/12), we attended Western Digital (WDC; $67.28; O/P) Investor Day in New York ahead of its pending spin of Sandisk as a publicly traded company under the stock symbol SNDK. Keep in mind, SNDK…

We are reducing our F2025/F2026E (Mar) EPS for Western Digital (WDC; $65.78; O/P) from $6.15/$7.05 to $5.65/$6.55 to consider the details behind the previously pre-announced FQ2 (Dec) results with FQ3E (Mar) guidance that suggested more…

Western Digital (WDC; $62.80; O/P) reported FQ2 (Dec) non-GAAP EPS of $1.77, which compared to our $1.75 and the Street’s $1.79. Recall, WDC pre-announced earlier this month it expected FQ2 sales to be at the…

Last night, Western Digital (WDC; $64.25; O/P) filed an 8-K in which it disclosed that it expected FQ2 (Dec) sales to be at mid-point of its original guidance range of $4.2-4.4B but that adjusted EPS…

We reduce our F2025/F2026E (Jun) EPS for Western Digital (WDC; $60.70; O/P) from $7.50/$9.00 to $6.50/$7.60 to incorporate the impact of greater than expected NAND pricing pressures (~50% of sales) during December within its soon…

Yesterday, the shares of Western Digital (WDC; $65.99; O/P) declined 6% on the heels of CEO Dave Goeckeler and CFO Wissam Jabre presenting at an investor conference where the company called out that it is…