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