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Stockreport

Western Digital slips as Raymond James cuts on valuation concerns [Seeking Alpha]

Western Digital Corporation (WDC)  More Company Research Source: Seeking Alpha
Last western digital corporation earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.wdc.com
Shares fell nearly 1% in premarket trading. "We are downgrading WDC from Outperform to Market Perform, primarily on valuation," analyst Srini Pajjuri wrote in an investor note. "While fundamentals in HDD and NAND markets should continue to improve, the stock has rallied past our price target and is trading at 8x prior peak EPS. We believe the valuation is now discounting a reasonable recovery scenario in both markets." Pajjuri added that pure-play NAND businesses will trade at a "significant discount" to memory suppliers, including Micron ( MU ) due in part to the fragmented nature of the NAND industry and "limited benefit" from generative artificial intelligence. Pajjuri has an Outperform rating on Micron. Even amid concerns about the discount NAND businesses have, there is a "cyclical" recovery in the space, as the average selling price likely increased more than 20% sequentially, Pajjuri said. "While NAND demand/supply should remain in a healthy balance through this year, [Read more]
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Stockreport

Western Digital slips as Raymond James cuts on valuation concerns [Seeking Alpha]

Western Digital Corporation  (WDC) 
More Company Research Source: Seeking Alpha
Last western digital corporation earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.wdc.com
Shares fell nearly 1% in premarket trading. "We are downgrading WDC from Outperform to Market Perform, primarily on valuation," analyst Srini Pajjuri wrote in an investor note. "While fundamentals in HDD and NAND markets should continue to improve, the stock has rallied past our price target and is trading at 8x prior peak EPS. We believe the valuation is now discounting a reasonable recovery scenario in both markets." Pajjuri added that pure-play NAND businesses will trade at a "significant discount" to memory suppliers, including Micron ( MU ) due in part to the fragmented nature of the NAND industry and "limited benefit" from generative artificial intelligence. Pajjuri has an Outperform rating on Micron. Even amid concerns about the discount NAND businesses have, there is a "cyclical" recovery in the space, as the average selling price likely increased more than 20% sequentially, Pajjuri said. "While NAND demand/supply should remain in a healthy balance through this year, [Read more]
IMPACT SNAPSHOT
EVENT TIME:
WDC
Last Price
Price Change
Price Change %
Volume Shares
Max Up
Max Down
Volume Ratio
%
Don't Miss Out On The Next BIG Stock Move
Performance comparison Updated
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
LAST PRICE AT
NEWS EVENT
SINCE EVENT
Multi-day stock performance from the time of the news release
LAST PRICE
VWAP
High:
MAX UP
High:
Low:
MAX DOWN
Low:
%
 POST NEWS RANGE
%
PRICE CHANGE
PRICE CHANGE PERCENTAGE
S&P 500 (SPX)
%
 VOLUME RATIO
%
VOLUME (SHARES)
TICKS
AVG SHARES PER TRADE
EVENT DAY
Event Day Chart will not be displayed beyond 90-day period of the event
PERFORMANCE SINCE EVENT
TIME AND VELOCITY ANALYSIS