|Bid||101.30 x 200|
|Ask||101.37 x 200|
|Day's Range||100.40 - 102.74|
|52 Week Range||74.05 - 106.96|
|PE Ratio (TTM)||79.38|
|Earnings Date||Apr 25, 2018 - Apr 30, 2018|
|Forward Dividend & Yield||2.00 (1.88%)|
|1y Target Est||115.74|
Fears of an oversupply and price wars in the chip-storage market have softened, lifting the stocks of Western Digital, Micron, Smart Global Holdings and others.
Tristan Gerra with R.W. Baird is having a serious bullish day with NAND flash today, not only raising his price target on memory chip maker Micron Technology (MU), but also raising his rating on shares of its NAND competitor, Western Digital (WDC), to Outperform from Neutral. Gerra observes pricing has held up better than expected for NAND: NAND pricing declines are more muted than supply chain expectations entering the quarter, with contract pricing expected to decline 3-4% in C1Q QoQ, and down in a higher single-digit range in C2Q, also better than seasonal. -We now expect NAND contract pricing to decline 15-20% in C2018, less than our initial expectation, and now within the range of Western Digital's targeted production cost reductions. He thinks two things happen next: supply may become tighter the second half of this year, relative to demand, and that may help to boost margins for Western.
Many of Wall Street's favorite high-tech growth companies are trading with stretched valuations, but memory firms like Micron (MU) and Western Digital (WDC) seem to present investors with incredible value opportunities.
Western Digital (WDC) has been able to lead the capacity enterprise market driven by its helium-based products. According to a PRNewswire report, companies such as WDC and Netflix (NFLX) use “helium to increase the speed and density of hard drives to provide faster access to data.” WDC’s HGST was the first to launch a helium hard drive resulting in a significantly lower cost of ownership. WDC’s high capacity 10-TB (terabyte), 12-TB, and 14-TB helium drives are seeing demand from hyperscale customers.
Western Digital (WDC) management stated that the global NAND (negative AND) market has started to normalize after a constrained supply scenario in 2017. With this normalization, WDC estimates the ASP (average selling prices) to fall, which WDC expects will be offset by cost declines driven by technology, improving yields, and nodal transitions. WDC has estimated the NAND to grow between 35% and 45% this year, and the firm has been able to grow at the higher end of this guidance.
Western Digital stock broke out to a multi-year high Wednesday as a confluence of recent events appears to have emboldened Wall Street.
Western Digital Corporation today announced that, in connection with the successful completion of previously disclosed transactions, it has redeemed all of its outstanding 10.500% senior unsecured notes due 2024 and on Feb.
Western Digital (WDC) unveils two new NVMe 3D NAND SSDs and UHS-I flash memory card, to cater to rising demand for power efficient high capacity storage solutions.