Seagate Technology upped at Morgan Stanley on prospects for rising margins [Seeking Alpha]
Western Digital Corporation (WDC)
Last western digital corporation earnings: 4/30 04:01 pm
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Source: Seeking Alpha
Shares rose 4% in premarket trading, while competitor Western Digital ( WDC ) also moved higher. Aside from increased demand related to generative AI, a cyclical recovery in storage and leadership in the heat assisted magnetic recording, or HAMR, space could lead to "structurally stronger gross margins" that could boost earnings power between 25% and 30% higher than previously anticipated, analyst Erik Woodring said. Woodring raised his rating on Seagate to Overweight from Equal-weight and boosted his price target to $115 from $73. "Our bottom-up analysis indicates that STX's long-term [gross margin] range could be 32-35% (vs. mgmt's 30-33% target) and we are 200-300bps ahead of Street GMs in FY25/26," Woodring wrote. "We also believe Gen AI will be a longer-term 'rising tides lifts all boats' tailwind for storage, causing us to raise our FY26-27 HDD exabyte forecast by 4%." Seagate could earn $7.50 per share or more in fiscal 2026 and rising to $10.50 or more per share in fi
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WDC
News
- Western Digital Co. (NASDAQ: WDC) had its price target raised by analysts at Evercore ISI from $80.00 to $85.00. They now have an "outperform" rating on the stock.MarketBeat
- Western Digital Co. (NASDAQ: WDC) had its "outperform" rating re-affirmed by analysts at Wedbush. They now have a $85.00 price target on the stock.MarketBeat
- Western Digital (WDC) Q3 Earnings & Revenues Beat Estimates [Yahoo! Finance]Yahoo! Finance
- Western Digital Co. (NASDAQ: WDC) had its price target raised by analysts at Robert W. Baird from $65.00 to $100.00. They now have an "outperform" rating on the stock.MarketBeat
- Western Digital Co. (NASDAQ: WDC) had its price target raised by analysts at Morgan Stanley from $83.00 to $86.00. They now have an "overweight" rating on the stock.MarketBeat
WDC
Earnings
- 4/25/24 - Beat
WDC
Sec Filings
- 4/25/24 - Form 8-K
- 4/9/24 - Form 4
- 4/8/24 - Form 144
- WDC's page on the SEC website