|Bid||47.60 x 2200|
|Ask||47.88 x 1400|
|Day's Range||47.38 - 48.46|
|52 Week Range||33.83 - 106.96|
|Beta (3Y Monthly)||1.70|
|PE Ratio (TTM)||17.43|
|Earnings Date||Apr 24, 2019 - Apr 29, 2019|
|Forward Dividend & Yield||2.00 (4.17%)|
|1y Target Est||60.26|
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Why Western Digital's Dividend Announcement Is ImportantWestern Digital declares a quarterly dividend On February 14, NAND (negative AND) chipmaker Western Digital (WDC) declared a quarterly dividend of $0.50, sending the stock up 0.5% in the
Western Digital Corp. (WDC) announced that Paula A. Price has resigned from the company’s board of directors to focus on her commitments and obligations as chief financial officer of Macy’s, Inc. Price joined the Western Digital board in July 2014. Price’s resignation was effective on Feb. 14, 2019 and is not due to any disagreement with Western Digital on any matter relating to its operations, policies or practices. “The Western Digital management team and the Board would like to thank Paula for her valuable insight and contributions to the Board and company,” said Matthew Massengill, Chairman of the Board.
Western Digital Corp. (WDC) today announced that the board of directors declared a cash dividend for the quarter ending March 29, 2019, of $0.50 per share of common stock (the "cash dividend"). The cash dividend will be paid on April 15, 2019, to the company's stockholders of record as of March 29, 2019. The amount of future dividends under the company's dividend policy, and the declaration and payment thereof, will be based upon all relevant factors, including the company's financial position, results of operations, cash flows, capital requirements and restrictions under the company's financing documents, and shall be in compliance with applicable law.
Micron Technology shares opened sharply higher Wednesday morning after KeyBanc analysts expressed optimism about the NAND and DRAM market.
Memory Stocks Fall as Goldman Sachs Warns of Weak FundamentalsSemiconductor stocks sell off The February 8 trading session opened with a sell-off in semiconductor stocks as recent earnings showed demand weakness. The stocks of Apple suppliers fell
Memory and hard-disk-drive stocks such as Micron Technology and Western Digital “could give back some of the recent stock gains,” analyst Mark Delany warns.
Western Digital Corp NASDAQ/NGS:WDCView full report here! Summary * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is moderate and increasing Bearish sentimentShort interest | NeutralShort interest is moderate for WDC with between 5 and 10% of shares outstanding currently on loan. This represents an increase in short interest as investors who seek to profit from falling equity prices added to their short positions on January 10. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding WDC totaled $20.86 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Technology sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
A Closer Look at Intel's Businesses in the Wake of Its Q4 Results(Continued from Prior Part)Intel’s memory business Previously, we learned that Intel (INTC) had reported demand weakness in the PC and data center markets, from which it earns over
Seagate stock initially fell 5% then rebounded as the disk drive maker reported quarterly earnings that beat views but warned of softening demand.
In this daily bar chart of WDC, below, we can see some recent improvement after a long and painful decline from March. The slower-to-react 200-day moving average line has also been in a downtrend and is well above the market. A bearish death cross of these two averages can be seen in late May. The On-Balance-Volume (OBV) line turned lower in late May and only recently broke that downtrend and turned higher.
CAMPBELL, Calif., Feb. 5, 2019 /PRNewswire/ -- Komprise, the industry-leader in intelligent data management, today announced it has secured $24M in Series C Investment. The funding round is led by Top Tier Ventures, with strategic investment from new investor Western Digital Capital, the strategic investment fund of Western Digital Corp. (WDC), along with participation from existing investors, Canaan Partners and Walden International.
Feb 5 (Reuters) - Western Digital Corp: * WESTERN DIGITAL - NOW EXPECTS FACILITY IN KUALA LUMPUR CLOSURE TO BE MOSTLY DONE BY Q4 2019; TO RESULT IN PRE-TAX CHARGES OF ABOUT $110 MILLION Source text: ( ...
The long nightmare for Western Digital (NASDAQ:WDC) seems like it might be over. WDC stock briefly traded over $100 in March, after months trading around $90. By December, Western Digital stock was below $35, trading at its lowest levels (save for a brief 2016 dip) in almost six years. Click to Enlarge Source: Shutterstock The news looks a bit brighter at the moment, however. WDC stock has rallied 39% from those lows. Sure Q2 earnings disappointed, but guidance for the fiscal third quarter suggested a bottom is approaching. And with Western Digital stock still cheap and still yielding a healthy 4.3%; that's been enough to drive some optimism. But I'd be worried that there's a bit of a "dead cat bounce" here. WDC stock looked cheap in September, too, but I didn't think it was a buy then and I'm not convinced yet. Josh Enomoto detailed the skeptical case after earnings and I'm inclined to agree. * 10 F-Rated Stocks That Could Break Your Portfolio Western Digital stock might look cheap, but with the cycle still working against the company, $47 may not look that cheap a few quarters from now. HDD still faces long-term pressure. NAND pricing appears to have peaked. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Meanwhile, there are two similar (and potentially more attractive) plays for investors betting memory has bottomed. I'm not sure WDC stock is the best choice, particularly with the gains after earnings. ### WDC Stock Gains After Earnings Western Digital earnings hardly looked impressive. Not only did the company miss on both revenue and earnings but the absolute performance looked concerning. Sales fell 21% in the quarter, and adjusted EPS was just $1.45 against $3.95 the year before, a 63% decline. The key culprit, beyond revenue pressure, was gross margin. The figure on a non-GAAP basis was 31.3% in the quarter against 43%+ the year before. But investors are looking forward, not backward. That's a bit ironic given that chip stocks, including WDC, have suffered from the same attitude in recent months. Western Digital fiscal Q4 earnings in July, for instance, beat analyst expectations, yet Western Digital stock kept falling. This time around, investors again focused on guidance - which truthfully isn't that good. The company is expecting adjusted EPS of just $0.40-$0.60 - on gross margin of just 28%. That compares to $3.63 and 43%, respectively, in the year-prior quarter. Clearly, business isn't expected to get better just yet. That said, commentary on the Q2 conference call was optimistic looking toward the second half of this year. And it appears investors are starting to believe that the worst is over in terms of pricing in NAND flash and hard disk drives (HDDs). As such, those investors have bid Western Digital stock higher. ### Reasons for Caution with Western Digital Stock All that said, it's awfully early to believe that Western Digital is out of the woods just yet. HDD and NAND weakness are tied in part to the same data center slowdown that's hit Intel (NASDAQ:INTC) and Nvidia (NASDAQ:NVDA), among others. Western Digital management believes that demand will return a few quarters from now, with CEO Steve Milligan predicting on the call that "growth [will] resume for us on both sides of the business in the second half of the [calendar] year". Elsewhere, though, investors aren't so confident. NVDA, for instance, is bouncing off a 22-month low (though admittedly there are other factors at play there). In NAND, meanwhile, Western Digital is cutting capacity in an effort to support pricing. But investors in memory stocks have heard that strategy before and it doesn't always work. Micron (NASDAQ:MU) has rallied so far this year on similar hopes. But memory is a viciously cyclical business and betting that the cycle is going to turn in the next couple of quarters creates a near- to mid-term risk in WDC stock. ### Can Investors Do Better? Particularly with Western Digital stock now up 27% YTD, there's another factor to consider. The tailwinds that are needed to keep WDC moving higher will help other chip stocks as well. If Milligan is right in seeing just a short-term pause in data center demand, NVDA stock might be a stronger rebound candidate. In memory, Micron stock is facing the same cyclical concerns yet remains cheaper to both near-term and (likely) mid-cycle earnings. It also has a much stronger balance sheet. Seagate Technology (NASDAQ:STX) has rallied itself, but has a similar valuation and a higher dividend yield. Across the board, the case for WDC stock applies at least in part to other chip stocks some of which look more attractive. And it's not as if WDC stock is that cheap anymore. Even though 8x+ forward earnings sounds cheap, it's not exactly a screaming buy for a leveraged cyclical business. If analysts are too optimistic toward FY20 EPS, as they've been across the chip space of late, either the 8x+ multiple expands to a less attractive double-digit figure, or Western Digital stock declines. More broadly, the case for WDC stock here is that the worst is over. For a number of reasons, including the pressure the company itself sees in fiscal Q3, it seems too early to make that case, and dive into Western Digital stock. Meanwhile, if the worst truly is over in memory and storage, there seem like better ways to make money than WDC. As of this writing, Vince Martin has no positions in any securities mentioned. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 S&P 500 Stocks to Buy That Tore Up Earnings * 10 Cold Weather Stocks to Heat Up Your Returns * The 7 Best Penny Stocks to Buy Compare Brokers The post Be Careful with the Post-Earnings Rally in WDC Stock appeared first on InvestorPlace.
Macroeconomic Weakness Takes Its Toll on Intel's 2019 Guidance(Continued from Prior Part)Cash flowsPreviously, we learned that Intel (INTC) improved its operating leverage by investing in high-growth markets, thereby improving its profit margins and
Macroeconomic Weakness Takes Its Toll on Intel's 2019 Guidance(Continued from Prior Part)Intel’s fourth-quarter revenue So far, we’ve learned that 2018 was a strong year for Intel (INTC), which reported impressive revenue growth in the first
Falling Memory Prices Lower Samsung’s Operating Profit by 30%Weak memory marketThis holiday season was weak for most tech companies as the US-China trade war created demand uncertainty and slowed purchases in the smartphone, data center, and