This Tech Stock Just Cut Its Dividend: Here's Why It May Be a Buy [The Motley Fool]
Western Digital Corporation (WDC)
Last western digital corporation earnings: 4/30 04:01 pm
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US:NASDAQ Investor Relations:
investor.wdc.com
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Source: The Motley Fool
On Thursday, April 0, NAND flash and hard disk storage specialistWestern Digital(NASDAQ:WDCMoreover, on theconference call with analystsIn light of those positive comments, it seems curious that the dividend was cut, sending shares down over % the following day. Yet the cut may have provided long-term shareholders with a unique buying opportunity.Image source: Getty Images.A new CEO in townOne significant point of context is that this was the first earnings report undernew CEO David GoeckelerCiscoNASDAQ:CSCOhadWestern Digital's dividend had already been somewhat out-of-place for the last few years, ever since the company's acquisition of SanDisk in 06. While that acquisition might have been the right strategic move to get Western Digital into the NAND flash market, it came at a high cost, and loaded the company's balance sheet with debt. Last quarter, debt totaled $9.6 billion versus $.9 billion in cash.That's probably too much debt for a business as cyclical as Western Digital, whic
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News
- Western Digital (WDC) Is Considered a Good Investment by Brokers: Is That True? [Yahoo! Finance]Yahoo! Finance
- Seagate gets upgrade at Wedbush citing HAMR drive technology on horizon [Seeking Alpha]Seeking Alpha
- Western Digital Corporation (NASDAQ:WDC) Q3 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Solid-State Drive (SSD) Insights Q1 2024 - SSD Petabyte Shipments Mark a Record High in Q4 2023 [Yahoo! Finance]Yahoo! Finance
- Western Digital Co. (NASDAQ: WDC) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
WDC
Earnings
- 4/25/24 - Beat
WDC
Sec Filings
- 4/30/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/9/24 - Form 4
- WDC's page on the SEC website