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Western Digital Corporation (WDC)

  • Jan. 27, 2014, 6:07 PM
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  • Oct. 24, 2013, 4:17 PM
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  • Jul. 24, 2013, 5:44 PM
    Western Digital (WDC) guides on its FQ4 call for FQ1 revenue of $3.7B-$3.8B and EPS of $1.95-$2.05, largely unfavorable to a consensus of $3.77B and $2.05. Shares now -5.9% AH. Seagate (STX) -2.1% in sympathy. In its quarterly fact sheet, WDC states its total hard drive shipments fell 16% Y/Y in FQ4 to 59.9M, as 27% and 24% drops in notebook and desktop drive shipments (over 2/3 of total shipments) offset consumer electronics and branded drive growth, and roughly flat enterprise shipments. WDC and STX both fell in regular trading thanks to Seagate's numbers (I, II, III).
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  • Jul. 24, 2013, 4:17 PM
    Western Digital (WDC): FQ4 EPS of $1.96 beats by $0.17. Revenue of $3.7B beats by $0.08B. (PR)
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  • Jul. 24, 2013, 10:57 AM
    Seagate (STX -8.7%) has guided on its CC for FQ1 revenue of $3.5B-$3.6B, in-line with a $3.56 consensus. Needham is pleased, and is reiterating Buys on Seagate and Western Digital (WDC -1.9%).  But as SA commenter alph124 observes, Seagate's declining cash flow in the face of slumping PC drive shipments has some investors worried. FQ4 free cash flow totaled $266M, well below net income of $447M, and operating cash flow fell to just $394M from $1.4B a year ago. Seagate has issued a new $2.5B buyback authorization, raising its available funds to $3.3B. But unless Seagate's buyback pace picks up, it'll be a while before those funds are use up. (Seagate's FQ4: I, II)
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  • Jul. 24, 2013, 9:51 AM
    Seagate (STX -5.4%) opens lower following its FQ4 report, and takes Western Digital (WDC -1.2%) down with it. Gross margin was 28%, +40 bps Q/Q and -560 bps Y/Y. PC drive shipments -5% Q/Q and -25% Y/Y to 34.7M. Client Non-Compute (consumer electronics, removable storage, etc.) -6% Q/Q and -3% Y/Y to 10.9M, and high-margin Enterprise Storage +9% Q/Q and -4% Y/Y to 8.2M (3.7M mission-critical drives, 4.5M near-line storage). Only $42M was spent on buybacks, down from $102M in FQ3. Average GB/drive was at 855, up from 842 in FQ3 and 692 in the year-ago period. Retail made up 11% of sales, up from 7% a year ago. (PR) (slides) (CFO comments)
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  • May 1, 2013, 6:45 PM
    Seagate (STX) +4.8% AH after guiding on its FQ3 call for FQ4 revenue of $3.3B-$3.45B, in-line with a $3.35B consensus and easing PC-related concerns. Western Digital (WDC) +1.6%. In prepared remarks, Seagate estimates the hard drive industry saw 136M shipments in FQ3, nearly even with the 135.4M estimated by WDC. Seagate pegs its share at 41%, down from FQ2's 43%; WDC claims its share rose 80 bps Q/Q to 44.4%. High-margin enterprise drive sales rose 3% Q/Q to 7.5M (boosted by Web/cloud storage); PC drives -7% to 36.6M, "non-compute" drives down slightly to 11.6M. Gross margin was flat Q/Q at 27.6%. (slides)
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  • Apr. 24, 2013, 5:39 PM
    Western Digital (WDC) guides for FQ4 revenue of $3.55B-$3.65B and EPS of $1.65-$1.80, in-line with a consensus of $3.58B and $1.74. That, along with a strong FQ3 beat, is going over well in light of huge PC-related fears. WDC +3.7% AH. STX +1.3%. LSI +2.2%. WDC estimates the total market for hard drives in FQ3 was 135.4M, down just slightly from FQ2's 135.8M. The company pegs its FQ3 share at 44.4%, up from FQ2's 43.6%. Gross margin rose 50 bps Q/Q (while falling 400 bps Y/Y) to 28.2%, and $243M worth of shares were repurchased. (fact sheet) (PR)
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  • Apr. 24, 2013, 4:17 PM
    Western Digital (WDC): FQ3 EPS of $2.1 beats by $0.34. Revenue of $3.8B beats by $0.19B. Shares +2.5% AH. (PR)
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Company Description
Western Digital Corp is a developer, manufacturer & provider of data storage solutions that enable consumers, businesses, governments & other organizations to create, manage, experience & preserve digital content. Its product include; HDDs and SSDs.
Sector: Technology
Country: United States