Western Digital (WDC) ratings and price targets.
ThinkEquity upgraded shares of Western Digital from a “Hold” rating to a “Buy” rating.
FBN Securities raised its price target on Western Digital to $40.00.
JPMorgan Chase & Co. (NYSE:JPM) reiterated its “Neutral” rating on Western Digital (WDC). They have a price target of $32.00 on the company.
Citigroup (NYSE:C) raised its price target on Western Digital (WDC) to $48.00.
Showing posts with label Western Digital. Show all posts
Showing posts with label Western Digital. Show all posts
Friday, December 2, 2011
Monday, July 18, 2011
Valeant (VRX) (VTNC) (WDC) (YUM) Price Targets Changed
Valeant Pharmaceuticals (NYSE: VRX), Vitran Co., Inc. (NASDAQ: VTNC), Western Digital (NYSE: WDC) and Yum! Brands, Inc. (NYSE: YUM) price targets changed.
Valeant Pharmaceuticals (NYSE: VRX) had its price target raised by RBC Capital from $55.00 to $58.00. They have an “outperform” rating on the company.
Vitran Co., Inc. (NASDAQ: VTNC) had its price target lowered by Morgan Keegan to $15.00.
Western Digital (NYSE: WDC) had its price target raised by Auriga to $52.00.
Yum! Brands, Inc. (NYSE: YUM) had its price target raised by analysts at RBC Capital from $59.00 to $65.00. They have an “outperform” rating on the company.
Valeant Pharmaceuticals (NYSE: VRX) had its price target raised by RBC Capital from $55.00 to $58.00. They have an “outperform” rating on the company.
Vitran Co., Inc. (NASDAQ: VTNC) had its price target lowered by Morgan Keegan to $15.00.
Western Digital (NYSE: WDC) had its price target raised by Auriga to $52.00.
Yum! Brands, Inc. (NYSE: YUM) had its price target raised by analysts at RBC Capital from $59.00 to $65.00. They have an “outperform” rating on the company.
Wednesday, May 18, 2011
Coverage on (STX) (TJX) (TZYM) (WDC) Initiated
Coverage on shares of Seagate (NYSE: STX), TJX Companies Inc (NYSE: TJX), Tranzyme Inc (NASDAQ: TZYM) and Western Digital (NYSE: WDC) was initiated by analysts.
Auriga initiated coverage on Seagate (STX). They placed a “buy” rating and a price target of $29.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on shares of TJX Companies Inc (NYSE: TJX). They placed a “buy” rating and a price target of $63.00 on the company.
Citigroup (NYSE:C) initiated coverage on Tranzyme Inc (TZYM). They placed a “buy” rating and a price target of $7.00 on the company.
Auriga initiated coverage on Western Digital (WDC). They placed a “buy” rating and a price target of $51.00 on the company.
Auriga initiated coverage on Seagate (STX). They placed a “buy” rating and a price target of $29.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on shares of TJX Companies Inc (NYSE: TJX). They placed a “buy” rating and a price target of $63.00 on the company.
Citigroup (NYSE:C) initiated coverage on Tranzyme Inc (TZYM). They placed a “buy” rating and a price target of $7.00 on the company.
Auriga initiated coverage on Western Digital (WDC). They placed a “buy” rating and a price target of $51.00 on the company.
Coverage on (STX) (TJX) (TZYM) (WDC) Initiated
Coverage on shares of Seagate (NYSE: STX), TJX Companies Inc (NYSE: TJX), Tranzyme Inc (NASDAQ: TZYM) and Western Digital (NYSE: WDC) was initiated by analysts.
Auriga initiated coverage on Seagate (STX). They placed a “buy” rating and a price target of $29.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on shares of TJX Companies Inc (NYSE: TJX). They placed a “buy” rating and a price target of $63.00 on the company.
Citigroup (NYSE:C) initiated coverage on Tranzyme Inc (TZYM). They placed a “buy” rating and a price target of $7.00 on the company.
Auriga initiated coverage on Western Digital (WDC). They placed a “buy” rating and a price target of $51.00 on the company.
Auriga initiated coverage on Seagate (STX). They placed a “buy” rating and a price target of $29.00 on the company.
UBS AG (NYSE:UBS) initiated coverage on shares of TJX Companies Inc (NYSE: TJX). They placed a “buy” rating and a price target of $63.00 on the company.
Citigroup (NYSE:C) initiated coverage on Tranzyme Inc (TZYM). They placed a “buy” rating and a price target of $7.00 on the company.
Auriga initiated coverage on Western Digital (WDC). They placed a “buy” rating and a price target of $51.00 on the company.
Monday, April 18, 2011
Marvell (MRVL) Rating Cut to Hold by Susquehanna
Shares of Marvell (NASDAQ:MRVL) are getting crunched today, as Susquehanna lowered its rating on the company from "Positive" to "Neutral."
Even though Marvell Technology Group is cheap at this time, it is balance by the risk shifts from its top customer Research in Motion (NASDAQ:RIMM) and the hard-disk market.
According to Susquehanna Financial chip analyst Christopher Caso, Marvell's most recent projection for the April quarter was made before the earthquake in Japan, which means it will be skewed because of the now anticipated weak quarter for disk drives.
Caso said with Western Digital (NYSE:WDC) accounting for about 21 percent of Marvell’s annual revenue, it “is likely to be affected by [Texas Instruments's (TXN)] motor controller shortage.”
Also noted was while Seagate Technology (NASDAQ:STX) will be adding some parts from Marvell in the quarter, that will be offset by the loss of some socket business from Seagate.
With RIM generating 14 percent of revenue at Marvell, it isn't too bright there either, even though the company will have “at least three new phones ramping at RIM."
Some of that negativity comes from assumptions that eventually RIM will use "QNX" operating systems, which will more than likely utilize Qualcomm (NASDAQ:QCOM) chips, not Marvell's.
Marvell was trading at $15.13, falling $0.84, or 5.26 percent, as of 2:19 PM EDT.
Even though Marvell Technology Group is cheap at this time, it is balance by the risk shifts from its top customer Research in Motion (NASDAQ:RIMM) and the hard-disk market.
According to Susquehanna Financial chip analyst Christopher Caso, Marvell's most recent projection for the April quarter was made before the earthquake in Japan, which means it will be skewed because of the now anticipated weak quarter for disk drives.
Caso said with Western Digital (NYSE:WDC) accounting for about 21 percent of Marvell’s annual revenue, it “is likely to be affected by [Texas Instruments's (TXN)] motor controller shortage.”
Also noted was while Seagate Technology (NASDAQ:STX) will be adding some parts from Marvell in the quarter, that will be offset by the loss of some socket business from Seagate.
With RIM generating 14 percent of revenue at Marvell, it isn't too bright there either, even though the company will have “at least three new phones ramping at RIM."
Some of that negativity comes from assumptions that eventually RIM will use "QNX" operating systems, which will more than likely utilize Qualcomm (NASDAQ:QCOM) chips, not Marvell's.
Marvell was trading at $15.13, falling $0.84, or 5.26 percent, as of 2:19 PM EDT.
Monday, March 7, 2011
Western Digital (NYSE:WDC) Acquiring Hitachi (HIT) HDD ops for $4.3 Billion
With the goal of dominating the big business hard drive market, Western Digital (NYSE:WDC) announced it is acquiring the hard disk drive operations of Hitachi Ltd (NYSE:HIT) for $4.3 billion.
Investors liked the cash-and-stock deal by driving up Western Digital's share price by 16 percent in morning trading. Rival Seagate Technology Plc's (NASDAQ:STX) stock also jumped on the news.
On a conference call with analysts, Western Digital Chief Executive John Coyne said, "The combination of resources with HGST will provide a strong base to address incremental opportunities for WD utilizing other forms of storage, such as solid state and hybrid drives."
Flash drives, or solid-state drives (SSDs), are viewed by many as the future of the disk drive industry. They are faster, and unlike hard disk drives they have no moving parts and hence are more sturdy.
Although SSDs are still more expensive than traditional hard disk drives (HDD), they are increasingly being built into laptop PCs and tablet computers like Apple's iPad as they are more durable and consume less power.
Seagate was trading at $13.51, gaining $1.07, or 8.62 percent, as of 12:52PM EST. Hitachi was at $64.17, up $2.93, or 4.78 percent. Western Digital was at $33.47, up $3.46, or 11.53 percent.
Full Story
Investors liked the cash-and-stock deal by driving up Western Digital's share price by 16 percent in morning trading. Rival Seagate Technology Plc's (NASDAQ:STX) stock also jumped on the news.
On a conference call with analysts, Western Digital Chief Executive John Coyne said, "The combination of resources with HGST will provide a strong base to address incremental opportunities for WD utilizing other forms of storage, such as solid state and hybrid drives."
Flash drives, or solid-state drives (SSDs), are viewed by many as the future of the disk drive industry. They are faster, and unlike hard disk drives they have no moving parts and hence are more sturdy.
Although SSDs are still more expensive than traditional hard disk drives (HDD), they are increasingly being built into laptop PCs and tablet computers like Apple's iPad as they are more durable and consume less power.
Seagate was trading at $13.51, gaining $1.07, or 8.62 percent, as of 12:52PM EST. Hitachi was at $64.17, up $2.93, or 4.78 percent. Western Digital was at $33.47, up $3.46, or 11.53 percent.
Full Story
Friday, January 14, 2011
Barclays Reviews IBM (NYSE:IBM), Apple (Nasdaq:AAPL), Ingram Micro (NYSE:IM)Western Digital (Nasdaq:WDC), Seagate (NYSE:STX), EMC (NYSE:EMC), Xerox (NYSE:XRX) and Lexmark (NYSE:LXK)
Barclays gave a review of companies in IT Hardware, covering IBM (NYSE:IBM), Apple (Nasdaq:AAPL), Western Digital (Nasdaq:WDC), Seagate (NYSE:STX), EMC (NYSE:EMC), Xerox (NYSE:XRX), Lexmark (NYSE:LXK) and Ingram Micro (NYSE:IM), as earnings season approaches.
Apple (AAPL) on January 18 - Strong Momentum in All Products: We recently raised our EPS estimates for Apple for F1Q11 thru FY12 due to prospects for higher Mac, iPhone & iPad sales. We also believe our gross margin forecast of 37% for C4Q could have potential for upside. Guidance is likely to remain conservative. Reiterate Overweight.
IBM (IBM) on January 18 - Strong Hardware, Subdued Signings: We see upside to EPS & 2011 guidance, but signings trends may mute some optimism. IBM will also shift to reporting results and guidance on an operating basis. Make sure you are ready.
Western Digital (WDC) on January 18 - Margins Improving: Our recent checks within the HDD industry indicate that industry trends have been improving throughout C4Q and indications for demand and pricing (C4Q and outlook into 2CQ 11) appear to be quite stable as HDD makers remain disciplined. WD margins could benefit. Reiterate Overweight.
Ingram Micro (IM) on February 10 - Solid Top Line: We believe IM will issue a positive 4Q report with potential for revenue upside & some EPS leverage. We would expect the stock to see support in the $19-$20 range at report (around estimated BV/TBV).
Seagate (STX) on January 19 - Buybacks & Some Stability: EPS could see upside as a result of margin upside & the recently announced $2B share repurchase program, which could amount to $300-$400 per quarter.
EMC (EMC) on January 25- Expecting Upside due to High-end Strength: Our checks indicate that EMC's 4Q10 may be tracking above the upper end of its guidance and could see a few cents upside given continued strong demand for its high-end & cloud offerings.
Xerox (XRX) on January 26 - Another Steady Performance: We believe Xerox is set to post modest upside to our $0.28 with solid cash flow, helped by share gains & cost controls. Given XRX raised 2011 guidance in C3Q, we do not look for any major change to outlook. Focus will likely be around plans for major share repurchase in 2H11.
Lexmark (LXK) on February 1 - Watching Europe: We believe LXK's 4Q10 EPS has potential upside to consensus of $1.11 (LXK guided $1.03-$1.13) w/support from a lower tax rate (extension of R&D credit). However, we wouldn't be surprised to see EPS guidance below the street for 1Q11 given typical conservatism & some weakness in Europe.
Apple (AAPL) on January 18 - Strong Momentum in All Products: We recently raised our EPS estimates for Apple for F1Q11 thru FY12 due to prospects for higher Mac, iPhone & iPad sales. We also believe our gross margin forecast of 37% for C4Q could have potential for upside. Guidance is likely to remain conservative. Reiterate Overweight.
IBM (IBM) on January 18 - Strong Hardware, Subdued Signings: We see upside to EPS & 2011 guidance, but signings trends may mute some optimism. IBM will also shift to reporting results and guidance on an operating basis. Make sure you are ready.
Western Digital (WDC) on January 18 - Margins Improving: Our recent checks within the HDD industry indicate that industry trends have been improving throughout C4Q and indications for demand and pricing (C4Q and outlook into 2CQ 11) appear to be quite stable as HDD makers remain disciplined. WD margins could benefit. Reiterate Overweight.
Ingram Micro (IM) on February 10 - Solid Top Line: We believe IM will issue a positive 4Q report with potential for revenue upside & some EPS leverage. We would expect the stock to see support in the $19-$20 range at report (around estimated BV/TBV).
Seagate (STX) on January 19 - Buybacks & Some Stability: EPS could see upside as a result of margin upside & the recently announced $2B share repurchase program, which could amount to $300-$400 per quarter.
EMC (EMC) on January 25- Expecting Upside due to High-end Strength: Our checks indicate that EMC's 4Q10 may be tracking above the upper end of its guidance and could see a few cents upside given continued strong demand for its high-end & cloud offerings.
Xerox (XRX) on January 26 - Another Steady Performance: We believe Xerox is set to post modest upside to our $0.28 with solid cash flow, helped by share gains & cost controls. Given XRX raised 2011 guidance in C3Q, we do not look for any major change to outlook. Focus will likely be around plans for major share repurchase in 2H11.
Lexmark (LXK) on February 1 - Watching Europe: We believe LXK's 4Q10 EPS has potential upside to consensus of $1.11 (LXK guided $1.03-$1.13) w/support from a lower tax rate (extension of R&D credit). However, we wouldn't be surprised to see EPS guidance below the street for 1Q11 given typical conservatism & some weakness in Europe.
Thursday, January 6, 2011
Seagate (NYSE:STX), Western Digital (NYSE:WDC), Hewlett-Packard (NYSE:HPQ), SMART Modular (Nasdaq:SMOD) Top IT Hardware Picks of Needham in 2011
Talking technology trends emerging in 2011, Needham & Company said their favorite picks are Seagate Technology (NYSE:STX), Western Digital (NYSE:WDC), Hewlett-Packard (NYSE:HPQ) and SMART Modular Technologies (Nasdaq:SMOD).
Needham noted, "Although there are multiple ways to participate in the industry and technology trends we see unfolding in 2011, our top picks for investors are Seagate Technology (Strong Buy), Western Digital (Strong Buy), Hewlett-Packard (Strong Buy) and SMART Modular Technologies (Buy). For STX and WDC, we see the companies benefiting from a recovery in pricing and margins within the industry as well as robust demand from PC and data center spending. HPQ is a top pick given its broad product reach into PCs, servers, networking and services, as well as its likely meaningful participation within the tablet world. Finally, we see SMOD as a highly leveraged play on PC and server growth (with the call option of the SSD business). Further, we view the stock’s recent pullback owing to aggressive DRAM pricing as a unique buying opportunity. In this report, we take a look back at 2010 and the events that shaped the performance within our coverage universe. We then look forward to 2011 and some of the themes and investment opportunities for investors."
Seagate closed Wednesday at $14.70, down $0.08, or 0.54 percent. Western Digital closed at $32.79, losing $0.20, or 0.61 percent. Hewlett-Packard closed at $44.20, gaining $0.57, or 1.31 percent. SMART Modular closed at $5.91, up $0.11, or 1.90 percent.
Needham noted, "Although there are multiple ways to participate in the industry and technology trends we see unfolding in 2011, our top picks for investors are Seagate Technology (Strong Buy), Western Digital (Strong Buy), Hewlett-Packard (Strong Buy) and SMART Modular Technologies (Buy). For STX and WDC, we see the companies benefiting from a recovery in pricing and margins within the industry as well as robust demand from PC and data center spending. HPQ is a top pick given its broad product reach into PCs, servers, networking and services, as well as its likely meaningful participation within the tablet world. Finally, we see SMOD as a highly leveraged play on PC and server growth (with the call option of the SSD business). Further, we view the stock’s recent pullback owing to aggressive DRAM pricing as a unique buying opportunity. In this report, we take a look back at 2010 and the events that shaped the performance within our coverage universe. We then look forward to 2011 and some of the themes and investment opportunities for investors."
Seagate closed Wednesday at $14.70, down $0.08, or 0.54 percent. Western Digital closed at $32.79, losing $0.20, or 0.61 percent. Hewlett-Packard closed at $44.20, gaining $0.57, or 1.31 percent. SMART Modular closed at $5.91, up $0.11, or 1.90 percent.
Wednesday, December 1, 2010
Western Digital (NYSE:WDC) May Outperform Near Term on Inventory Restocking
Citing the probability the PC industry will restock inventory fairly soon Barclays (NYSE:BCS) sees a strong possibility Western Digital (NYSE:WDC) will exceed expectations in the short term.
They said, "Our checks continue to suggest that the HDD industry is starting to recover with TAM improving in C4Q10 with prices firming a bit. We continue to believe that WDC remains well positioned to benefit from a potential inventory restocking cycle in the PC industry starting next year...While not raising revenue estimates, our checks indicate that near-term forecasts may be conservative. For 2011, we now estimate non-GAAP EPS of $3.02 (was $2.86) based on a 4% y/y decline in revenue to $9.45 billion factoring in gross margins of 17.6% (was 17.2%)...For FY12, we now estimate non-GAAP EPS of $3.85 (was $3.65) based on 4% y/y growth to $9.83 billion with gross margins of 19.4%."
Barclays maintains an "Overweight" on Western Digital, which closed Tuesday at $33.50, falling $0.22, or 0.65 percent. They raised their price target on them from $39 to $41.
They said, "Our checks continue to suggest that the HDD industry is starting to recover with TAM improving in C4Q10 with prices firming a bit. We continue to believe that WDC remains well positioned to benefit from a potential inventory restocking cycle in the PC industry starting next year...While not raising revenue estimates, our checks indicate that near-term forecasts may be conservative. For 2011, we now estimate non-GAAP EPS of $3.02 (was $2.86) based on a 4% y/y decline in revenue to $9.45 billion factoring in gross margins of 17.6% (was 17.2%)...For FY12, we now estimate non-GAAP EPS of $3.85 (was $3.65) based on 4% y/y growth to $9.83 billion with gross margins of 19.4%."
Barclays maintains an "Overweight" on Western Digital, which closed Tuesday at $33.50, falling $0.22, or 0.65 percent. They raised their price target on them from $39 to $41.
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