The Latest Breaking News from Western Digital

Western Digital Corp (NASDAQ:WDC) had weighed strategic alternatives, including splitting its businesses focused on traditional hard drives for computers and flash memory. Western Digital settled with activist investor Elliott Management Corp calling for the $19 billion company to consider splitting into two, the Wall Street Journal reports. Previously Elliott disclosed a 6% stake in Western…

Over the past 3 months, 8 analysts have published their opinion on Western Digital (NASDAQ:WDC) stock. These analysts are typically employed by large Wall Street banks and tasked with understanding a company's business to predict how a stock will trade over the upcoming year.

Western Digital's (NASDAQ:WDC) short percent of float has risen 16.89% since its last report. The company recently reported that it has 7.82 million shares sold short, which is 2.56% of all regular shares that are available for trading.

Within the last quarter, Western Digital (NASDAQ:WDC) has observed the following analyst ratings:

What are Value Stocks? A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock.

Gold futures traded lower on Monday. Investors, meanwhile, focused on some notable insider trades.

Whatever your ethical stance on activist investing is, it really does not matter. It is now common practice for large investors to take a large stake in a company and then tell the management that they know how to run their business better than they do.

 

Western Digital (NASDAQ:WDC) has outperformed the market over the past 15 years by 1.38% on an annualized basis producing an average annual return of 8.39%. Currently, Western Digital has a market capitalization of $19.05 billion.

Western Digital Corp (NASDAQ: WDC) shares are trading higher Tuesday after Elliott Investment Management sent a letter to Western Digital's board, calling for a full strategic review of the value that could be created by separating its flash unit.

Western Digital (NASDAQ:WDC) reported its Q3 earnings results on Thursday, April 28, 2022 at 04:01 PM. Here's what investors need to know about the announcement.