Western Digital Corporation's Stock Analysis

Western Digital Eliminates Preferred Stock and Redeems Senior Notes

Western Digital Corporation has eliminated its Series A Convertible Perpetual Preferred Stock, which was converted on February 17, 2026, leaving no outstanding shares. The elimination was formalized through a Certificate of Elimination filed with the Delaware Secretary of State on February 24, 2026.

Additionally, the company issued a conditional notice of redemption for its 2.850% Senior Notes due 2029 and 3.100% Senior Notes due 2032 on February 13, 2026. Following the repayment of certain debt obligations on February 19, 2026, the company redeemed all outstanding Notes, releasing all liens and security interests associated with them.

Feb 24, 2026 16:15:26

Western Digital Announces Mandatory Conversion of Preferred Stock

Western Digital Corporation has issued Series A Convertible Perpetual Preferred Stock, which allows for a Mandatory Conversion into common stock after three years from the closing date of January 31, 2023. This conversion can occur if the closing price of common stock exceeds 150% of the conversion price for at least twenty trading days within a thirty-day period prior to the notice.

On February 17, 2026, the company plans to convert all outstanding shares of the Preferred Stock into common stock as stipulated in the Certificate of Designations. This action is part of the company's rights as outlined in the certificate and is subject to the terms specified therein.

Feb 18, 2026 06:02:33

Western Digital Announces Redemption of Senior Notes Due 2026

Western Digital Corporation has issued a conditional notice of redemption for its entire outstanding amount of 4.750% Senior Notes due 2026. The notice was provided to the record holders of the Notes on January 6, 2026, following the initial issuance on February 13, 2018, under an indenture with U.S. Bank as trustee.

On February 5, 2026, Western Digital deposited the necessary funds with the trustee to cover the redemption price and any accrued interest. Consequently, the company has satisfied its obligations under the indenture, leading to the discharge of both the company and its guarantors from responsibilities related to the Notes.

Feb 09, 2026 07:00:14

Western Digital Reports 25% Revenue Growth in Q2 2026

Western Digital Corporation announced its financial results for the fiscal second quarter ended January 2, 2026, reporting revenue of $3.02 billion, which reflects a 25% increase year over year. The company achieved a GAAP gross margin of 45.7% and a non-GAAP gross margin of 46.1%. GAAP diluted earnings per share (EPS) stood at $4.73, while non-GAAP diluted EPS was $2.13. Cash flow from operations was reported at $745 million, with free cash flow at $653 million. The company has declared a cash dividend of $0.125 per share, payable on March 18, 2026, to stockholders of record as of March 5, 2026.

Looking ahead, Western Digital expects revenue for the fiscal third quarter of 2026 to increase by approximately 40% year over year, estimating revenue of around $3.2 billion at the midpoint. The company anticipates a non-GAAP gross margin of 47.5% and non-GAAP EPS of $2.30. These projections are based on ongoing demand from data centers and the adoption of high-capacity drives, indicating a positive outlook for the company's operational performance.

Jan 29, 2026 16:11:54

Western Digital Stockholders Approve Key Corporate Governance Changes

Western Digital Corporation held its annual meeting on November 20, 2025, where stockholders approved several key proposals. Notably, the amendment and restatement of the 2005 Employee Stock Purchase Plan was approved, increasing the shares available for issuance by 8 million. This amendment had previously received approval from the Board of Directors pending stockholder consent.

Additionally, stockholders elected eight directors to serve until the next annual meeting and approved an advisory vote on named executive officer compensation as outlined in the proxy statement. The appointment of KPMG LLP as the independent registered public accounting firm for fiscal 2026 was also ratified by the stockholders.

Nov 24, 2025 16:22:39

Western Digital Appoints New Chief Accounting Officer Brad Feller

Western Digital Corporation has appointed Brad Feller as Senior Vice President and Chief Accounting Officer, effective November 14, 2025. Feller succeeds Gene M. Zamiska and will also take on the role of principal accounting officer. His previous experience includes positions as CFO at Bright Machines, Flex Logix Technologies, and Infinera Corporation, among others. He will receive an annual base salary of $425,000, a target bonus opportunity of 75% of his salary, and a signing bonus of $300,000, which is subject to repayment under certain conditions.

In addition to his salary and bonuses, Feller will receive a sign-on restricted stock unit award valued at $1,500,000, with a vesting schedule that begins in November 2026. He is also eligible for an annual equity award for fiscal year 2027 valued at $900,000, pending approval. The company will enter into a standard indemnification agreement with him and he will be eligible for participation in the Executive Severance Plan and Change in Control Severance Plan.

Nov 03, 2025 17:10:31

Western Digital Reports Q1 FY2026 Financial Results and Dividend

Western Digital Corporation announced its financial results for the fiscal first quarter ended October 3, 2025, reporting revenues of $2.82 billion, a 27% increase year over year. The company achieved a GAAP diluted EPS of $3.07 and a non-GAAP diluted EPS of $1.78, along with a cash flow from operations of $672 million and free cash flow of $599 million. The Board of Directors declared a quarterly cash dividend of $0.125 per share, reflecting a 25% increase, payable on December 18, 2025.

Looking ahead, Western Digital expects continued revenue growth driven by data center demand, with projected Q2 FY2026 revenues of $2.9 billion. The company anticipates a non-GAAP gross margin of 44.5% and non-GAAP EPS of $1.88 at the mid-point of its guidance. The ongoing demand for data storage solutions, particularly in cloud environments, positions Western Digital favorably in the market.

Oct 30, 2025 16:11:32

Western Digital Reports Strong Q4 and Fiscal Year Results

Western Digital Corporation announced its financial results for the fourth quarter and fiscal year 2025, reporting revenue of $2.61 billion for Q4, a 30% increase year over year, and total fiscal year revenue of $9.52 billion, up 51% year over year. The company achieved a GAAP diluted EPS of $0.67 and a non-GAAP diluted EPS of $1.66, alongside cash flow from operations of $746 million and free cash flow of $675 million for the quarter.

In addition to the positive financial performance, Western Digital reduced its debt by $2.6 billion and initiated a cash dividend of $0.10 per share, payable on September 18, 2025. The company also announced a $2.0 billion share repurchase program, indicating a commitment to returning value to shareholders. For the upcoming fiscal first quarter of 2026, Western Digital expects revenue to reach approximately $2.7 billion, representing a 22% increase year over year at the midpoint of its guidance.

Jul 30, 2025 16:14:55

Western Digital Appoints Kris Sennesael as New CFO

Western Digital has announced the appointment of Kris Sennesael as its Chief Financial Officer, effective May 12, 2025. Sennesael brings over 25 years of experience in finance and management from the semiconductor and technology sectors, having most recently served as CFO at Skyworks Solutions. In his new role, he will oversee the company's global finance organization, which includes finance, accounting, and investor relations, and will report directly to CEO Irving Tan.

Sennesael's previous experience includes CFO positions at Enphase Energy and Standard Microsystems, as well as leadership roles at ON Semiconductor and Alcatel Microelectronics. His background in collaborating with executive teams to drive strategic initiatives is expected to contribute to Western Digital's efforts in balancing innovation, growth, and operational efficiency. The company emphasizes its commitment to sustainability and aims to deliver high-quality storage solutions while addressing climate change.

May 08, 2025 16:10:17

Western Digital Declares Dividend Amid Mixed Financial Results

Western Digital Corporation reported revenue of $2.29 billion for the fiscal third quarter of 2025, reflecting a 5% decrease from the previous quarter. The decline was attributed to decreases in cloud, client, and consumer revenue. The company reported GAAP earnings per share (EPS) of $2.11 and Non-GAAP EPS of $1.36, with an operating cash inflow of $508 million. The company’s total cash and cash equivalents stood at $3.48 billion at the end of the quarter.

The Board of Directors has approved a quarterly cash dividend program, declaring a cash dividend of $0.10 per share, payable on June 18, 2025, to shareholders of record as of June 4, 2025. Looking ahead, the company expects fourth quarter revenue to be in the range of $2.45 billion, with Non-GAAP EPS projected between $1.45 and $1.65. The company has also completed the separation of its Flash business unit, Sandisk, which is now an independent public company.

Apr 30, 2025 08:05:41