Nexus Investment Management buys $11,488,680 stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Nexus Investment Management scooped up 4,575 additional shares in Western Digital Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 6, 2016. The investment management firm now holds a total of 232,800 shares of Western Digital Corp which is valued at $11,488,680.Western Digital Corp makes up approximately 2.16% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in WDC by selling 301,729 shares or 68.36% in the most recent quarter. The Hedge Fund company now holds 139,643 shares of WDC which is valued at $6,891,382. Western Digital Corp makes up approx 0.03% of Bnp Paribas Arbitrage Sa’s portfolio.Integrated Investment Consultants boosted its stake in WDC in the latest quarter, The investment management firm added 99 additional shares and now holds a total of 360 shares of Western Digital Corp which is valued at $16,099. Western Digital Corp makes up approx 0.01% of Integrated Investment Consultants’s portfolio. Cullinan Associates Inc sold out all of its stake in WDC during the most recent quarter. The investment firm sold 4,082 shares of WDC which is valued $189,691.

Western Digital Corp opened for trading at $49.5 and hit $50.49 on the upside on Monday, eventually ending the session at $49.48, with a gain of 0.26% or 0.13 points. The heightened volatility saw the trading volume jump to 55,46,228 shares. Company has a market cap of $11,529 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.

Many Wall Street Analysts have commented on Western Digital Corp. Mizuho Upgraded Western Digital Corp on Jun 7, 2016 to ” Buy”, Price Target of the shares are set at $53.Western Digital Corp was Resumed by Goldman to “Neutral” on Jun 6, 2016. Shares were Reiterated by Maxim Group on May 27, 2016 to “Buy” and Lowered the Price Target to $ 71 from a previous price target of $75 .

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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