Taconic Capital Advisors Lp adds Western Digital Corp (WDC) to its portfolio

Western Digital Corp (WDC) : Taconic Capital Advisors Lp added new position in Western Digital Corp during the most recent quarter end. The investment management firm now holds 697,004 shares of Western Digital Corp which is valued at $24.7 Million , the company said in a statement filed on May 13, 2016 with the SEC.Western Digital Corp makes up approximately 1.83% of Taconic Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Hartford Investment Management Co boosted its stake in WDC in the latest quarter, The investment management firm added 1,799 additional shares and now holds a total of 69,366 shares of Western Digital Corp which is valued at $2.5 Million. Western Digital Corp makes up approx 0.05% of Hartford Investment Management Co’s portfolio. Bbt Capital Management sold out all of its stake in WDC during the most recent quarter. The investment firm sold 45,830 shares of WDC which is valued $1.6 Million.Harvest Management boosted its stake in WDC in the latest quarter, The investment management firm added 19,335 additional shares and now holds a total of 22,677 shares of Western Digital Corp which is valued at $803,673. Western Digital Corp makes up approx 1.00% of Harvest Management’s portfolio.Commonwealth Of Pennsylvania Public School Empls Retrmt Sys boosted its stake in WDC in the latest quarter, The investment management firm added 2,565 additional shares and now holds a total of 59,671 shares of Western Digital Corp which is valued at $2.1 Million. Western Digital Corp makes up approx 0.05% of Commonwealth Of Pennsylvania Public School Empls Retrmt Sys’s portfolio. Cqs Cayman Lp added WDC to its portfolio by purchasing 12,000 company shares during the most recent quarter which is valued at $447,240. Western Digital Corp makes up approx 0.11% of Cqs Cayman Lp’s portfolio.

Western Digital Corp opened for trading at $43.66 and hit $44.87 on the upside on Wednesday, eventually ending the session at $44.15, with a gain of 4.42% or 1.87 points. The heightened volatility saw the trading volume jump to 84,72,984 shares. Company has a market cap of $10,287 M.

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.

Investors should note that on May 4, 2016, Western Digital Corp announced a cash dividend of $0.5000. The company’s management has announced Jun 29, 2016 as the ex-dividend date and fixed the record date on Jul 1, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on Western Digital Corp. Company shares were Upgraded by Barclays on May 25, 2016 to ” Overweight”, Firm has raised the Price Target to $ 60 from a previous price target of $57 .Company shares were Upgraded by Cowen on May 24, 2016 to ” Outperform”, Firm has raised the Price Target to $ 50 from a previous price target of $45 .Shares were Reiterated by Mizuho on May 18, 2016 to “Neutral” and Lowered the Price Target to $ 40 from a previous price target of $47 .

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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