At last minute, Western Digital resubmits bid for Toshiba chip unit

Western Digital (WDC) Offers Statement on Recent Actions Taken by Toshiba

Western Digital Corp. (NASDAQ: WDC) today issued the following statement regarding Toshiba Corporations (Toshiba) recent actions, including its decision to prohibit certain employees from accessing shared databases related to the three NAND flash-memory joint ventures operated with Western Digitals SanDisk subsidiaries (JVs) as well as, in some instances, access to the JVs facilities, and its decision to seek a provisional disposition order against Western Digital in the Tokyo District Court:

Western Digital is strongly focused on the success of the JVs, and over the past 17 years has made substantial investments to... More

Toshiba to File Lawsuit Against Western Digital (WDC) for Violation of Unfair Competition Prevention Act & Seeking Damages of 120B Yen

Toshiba Corporation and Toshiba Memory Corporation today filed a petition with the Tokyo District Court against Western Digital Corporation, a U.S. company, and its subsidiary Western Digital Technologies, Inc. (NASDAQ: WDC), seeking a provisional disposition order for an injunction against acts of unfair competition, and also brought suit for a permanent injunction, damages and payment of 120 billion yen, alleging violation of the Unfair Competition Prevention Act, among other things.

The lawsuit states, as detailed in Toshibas June 2, 2017 press release, Update on Status of Third-party Investment in the Memory Business, that WD has... More

Western Digital (WDC) Reports Succesful Development of Industry's 1st 96-Layer 3D NAND Technology

Western Digital Corp. (NASDAQ: WDC), a global data storage technology and solutions leader, today announced that it has successfully developed its next-generation 3D NAND technology, BiCS4, with 96 layers of vertical storage capability. Sampling to OEM customers is expected to commence in the second half of calendar year 2017 and initial production output is expected in calendar year 2018. BiCS4, which was developed jointly with Western... More

Western Digital Corp. (WDC) PT Raised to $92 at UBS Following Preannouncement

UBS raised its price target on Western Digital Corp. (NASDAQ: WDC) to $92.00 (from $90.00) while maintaining a Neutral rating. WDC preannounced a positive 4Q with gross margins ahead of expectations at 41% vs the previous 40% guide. UBS moved gross margins up with the revised guidance... More

Western Digital Corp. (WDC) PT Raised to $92 at UBS; 'Positive F4Q Preannouncement Offset by Reiteration of C17 Guidance'

UBS raised its price target on Western Digital Corp. (NASDAQ: WDC) to $92.00 (from $90.00) while maintaining a Neutral rating, as the company preannounced positively with the flash business driving a better than expected gross margin.

Analyst John Roy notes the positive gross margin... More

Jefferies Remains Sidelined on Western Digital (WDC) Following 4Q Pre-Announcement

Jefferies reiterated a Hold rating and $90.00 price target on Western Digital Corp. (NASDAQ: WDC) following a positive 4Q pre-announcement. WDC pre-announced Q4 (Jun) results with ~$4.8B in revenue (Street = $4.81B), 41% gross margin (vs. 40% prior), and EPS of $2.85 (Street = $2.65).

WDC reiterated its goal of $12... More