Orca Investment Management adds Western Digital Corp (WDC) to its portfolio

Western Digital Corp (WDC) : Orca Investment Management added new position in Western Digital Corp during the most recent quarter end. The investment management firm now holds 62,125 shares of Western Digital Corp which is valued at $2,538,738 , the company said in a statement filed on Apr 25, 2016 with the SEC.Western Digital Corp makes up approximately 2.81% of Orca Investment Management’s portfolio.

Western Digital Corp closed down -0.015 points or -0.04% at $40.85 with 83,91,804 shares getting traded on Monday. Post opening the session at $40.61, the shares hit an intraday low of $40.13 and an intraday high of $41.49 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

Other Hedge Funds, Including , Washington Trust Bank reduced its stake in WDC by selling 212 shares or 20.21% in the most recent quarter. The Hedge Fund company now holds 837 shares of WDC which is valued at $34,204. Western Digital Corp makes up approx 0.01% of Washington Trust Bank’s portfolio. Highstreet Asset Management added WDC to its portfolio by purchasing 17,071 company shares during the most recent quarter which is valued at $745,320. Western Digital Corp makes up approx 0.26% of Highstreet Asset Management’s portfolio.Raymond James Trust N.a. reduced its stake in WDC by selling 859 shares or 13.87% in the most recent quarter. The Hedge Fund company now holds 5,332 shares of WDC which is valued at $232,795. Western Digital Corp makes up approx 0.02% of Raymond James Trust N.a.’s portfolio.Profit Investment Management reduced its stake in WDC by selling 11,270 shares or 11.2% in the most recent quarter. The Hedge Fund company now holds 89,395 shares of WDC which is valued at $3,902,986. Western Digital Corp makes up approx 1.64% of Profit Investment Management’s portfolio.Koshinski Asset Management boosted its stake in WDC in the latest quarter, The investment management firm added 568 additional shares and now holds a total of 7,134 shares of Western Digital Corp which is valued at $288,856. Western Digital Corp makes up approx 0.19% of Koshinski Asset Management’s portfolio.

On the company’s financial health, Western Digital Corp reported $1.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.29. The company had revenue of $2822.00 million for the quarter, compared to analysts expectations of $2879.53 million. The company’s revenue was down -20.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.87 EPS.

Many Wall Street Analysts have commented on Western Digital Corp. Shares were Downgraded by Robert W. Baird on Apr 29, 2016 to ” Neutral” and Lowered the Price Target to $ 50 from a previous price target of $55 .Shares were Reiterated by Maxim Group on Apr 25, 2016 to “Buy” and Lowered the Price Target to $ 75 from a previous price target of $101 .Western Digital Corp was Downgraded by Longbow to ” Neutral” on Apr 13, 2016.

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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