NEW YORK, NY / ACCESSWIRE / August 15, 2017 / Western Digital traders have been through a rollercoaster this year wondering the future of the company as WDC battles Toshiba over a plant which its SanDisk company has a partnership to build nukes in. Shares of Seagate Technology closed in the green despite no news aside from a filing revealing this past Friday that an activist investor upped its stake in the company.

RDI Initiates Coverage on:

Western Digital Corporation
https://ub.rdinvesting.com/news/?ticker=WDC

Seagate Technology plc
https://ub.rdinvesting.com/news/?ticker=STX

Western Digital Corporation's shares closed up 3.67% on Monday on slightly below average volume. The stock may be up 20% YTD but has been doing an up and down dance recently as the company battles with Toshiba's division Westinghouse. Westinghouse has been trying to build new nukes in the state of South Carolina and it hasn't been going well. Construction has even been shut down. The problem for Western Digital is that it owns SanDisk, and SanDisk is a partner in the plant and does not want the factory sold out from under it. Western Digital has made an offer to buy it from Toshiba but Toshiba has rejected that offer. If Toshiba chooses to do Japanese consortium, it may weigh heavily for WDC.

Access RDI's Western Digital Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=WDC

Seagate Technology plc's shares closed up a modest 0.81% on Monday on nearly 4 million shares traded. There was no significant news from the company yesterday but the electronic storage device manufacturer reported its fourth quarter 2017 financial results earlier in the month. Revenue at $2.41 billion was less than the $2.65 billion from the year ago period. It was also behind the $2.55 billion that the Street was waiting for. GAAP net income was $114 million, or $0.38 a share diluted. This was an increase from the year ago period when the company reported $70 million or $0.23 per share. Non-GAAP net income for the fourth quarter was $192 million, or $0.65 a share. This was way below than the $0.99 per diluted share that analysts had been expecting. It was revealed last Friday that ValueAct Capital Management upped its stake in the company. According to recent 13-D filings, the investor increased their investment to 7.2% compared to about 4% before when it first took a position in September of last year.

Access RDI's Seagate Technology Research Report at:
https://ub.rdinvesting.com/news/?ticker=STX

Our Actionable Research on Western Digital Corporation (NASDAQ: WDC) and Seagate Technology plc (NASDAQ: STX) be downloaded free of charge at Research Driven Investing.

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