Hilltop Park Associates adds Western Digital Corp (WDC) to its portfolio

Western Digital Corp (WDC) : Hilltop Park Associates added new position in Western Digital Corp during the most recent quarter end. The investment management firm now holds 10,000 shares of Western Digital Corp which is valued at $438,900 , the company said in a statement filed on Aug 8, 2016 with the SEC.Western Digital Corp makes up approximately 6.16% of Hilltop Park Associates’s portfolio.

Other Hedge Funds, Including , Genovese Burford Brothers Wealth Retirement Plan Mana… sold out all of its stake in WDC during the most recent quarter. The investment firm sold 91 shares of WDC which is valued $3,994. Salient Capital Advisors sold out all of its stake in WDC during the most recent quarter. The investment firm sold 716 shares of WDC which is valued $32,521.10-15 Associates boosted its stake in WDC in the latest quarter, The investment management firm added 7,416 additional shares and now holds a total of 159,177 shares of Western Digital Corp which is valued at $7,229,819. Western Digital Corp makes up approx 2.00% of 10-15 Associates’s portfolio.Sg Americas Securities boosted its stake in WDC in the latest quarter, The investment management firm added 179,282 additional shares and now holds a total of 310,318 shares of Western Digital Corp which is valued at $13,896,040. Western Digital Corp makes up approx 0.11% of Sg Americas Securities’s portfolio.

Western Digital Corp opened for trading at $44.47 and hit $46.25 on the upside on Monday, eventually ending the session at $45.84, with a gain of 3.45% or 1.53 points. The heightened volatility saw the trading volume jump to 43,34,239 shares. Company has a market cap of $10,681 M.

On the company’s financial health, Western Digital Corp reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.71. The company had revenue of $3495.00 million for the quarter, compared to analysts expectations of $3446.23 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 EPS.

Investors should note that on Aug 3, 2016, Western Digital Corp announced a cash dividend of $0.5000. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 17, 2016.

Many Wall Street Analysts have commented on Western Digital Corp. Shares were Downgraded by Goldman on Aug 3, 2016 to ” Sell” and Lowered the Price Target to $ 38 from a previous price target of $47 .Company shares were Upgraded by Robert W. Baird on Jul 29, 2016 to ” Outperform”, Firm has raised the Price Target to $ 65 from a previous price target of $50 .Company shares were Reiterated by Cowen on Jul 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .

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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