Cowen & Company Initiates Coverage on Western Digital Corp to Market Perform

Cowen & Company Initiates Coverage on Western Digital Corp(NASDAQ:WDC). The shares have been rated Market Perform. The rating by Cowen & Company was issued on Apr 11, 2016.

In a different note, Summit Research said it Initiates Coverage on Western Digital Corp, according to a research note issued on Mar 28, 2016. The shares have been rated ‘Buy’ by the firm. On Mar 24, 2016, Citigroup said it Maintains its rating on Western Digital Corp. In the research note, the firm Raises the price-target to $53.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 15, 2016, Brean Capital said it Maintains its rating on Western Digital Corp. In the research note, the firm Lowers the price-target to $150.00 per share. The shares have been rated ‘Buy’ by the firm. Citigroup said it Initiates Coverage on Western Digital Corp, according to a research note issued on Jan 27, 2016. The shares have been rated ‘Buy’ by the firm. On Jan 25, 2016, Jefferies said it Maintains its rating on Western Digital Corp. According to the research note, Jefferies Lowers the price target to $82 per share from a prior target of $95. The shares have been rated ‘Buy’ by the firm. On Jan 13, 2016, Jefferies said it Maintains its rating on Western Digital Corp. According to the research note, Jefferies Lowers the price target to $95 per share from a prior target of $111. The shares have been rated ‘Buy’ by the firm.

Western Digital Corp (WDC) shares turned negative on Fridays trading session with the shares closing down -1.33 points or -3.18% at a volume of 81,09,702. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $41.7. The peak price level was also seen at $41.7 while the days lowest was $39.83. Finally the shares closed at $40.49. The 52-week high of the shares is $102.07 while the 52-week low is $38.64. According to the latest information available, the market cap of the company is $9,425 M.

Western Digital Corp(WDC) last announced its earnings results on Jan 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.32B. Analysts had an estimated revenue of $3.35B. Earnings per share were $1.60. Analysts had estimated an EPS of $1.55.

Several Insider Transactions has been reported to the SEC. On Dec 9, 2015, Michael Charles Ray (EVP, Chief Legal Officer & Sec) sold 1,863 shares at $63.59 per share price.Also, On Nov 10, 2015, Matthew E Massengill (director) sold 1,187 shares at $67.75 per share price.On Nov 4, 2015, Stephen D Milligan (Chief Executive Officer) sold 6,239 shares at $66.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Western Digital Corporation is a data storage solutions company. The Company is a developer manufacturer and provider of data storage solutions that enable consumers businesses governments and other organizations to create manage experience and preserve digital content. The Company’s Technology product includes: Hard Disk Drives and Solid-State Drives. Hard Disk Drives provide non-volatile data storage. Solid-State Drives are semiconductor and non-volatile media. The Company offers solutions including: Enterprise Storage Solutions Client Desktop and Notebook PCs Branded Product Solutions Consumer Electronics Solutions. The Company’s products are marketed under the HGST WD and G-Technology brand names.

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