Avalon Global Asset Management buys $3,323,250 stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Avalon Global Asset Management scooped up 15,000 additional shares in Western Digital Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 75,000 shares of Western Digital Corp which is valued at $3,323,250.Western Digital Corp makes up approximately 2.83% of Avalon Global Asset Management’s portfolio.

Other Hedge Funds, Including , Mirae Asset Global Investments Ltd. sold out all of its stake in WDC during the most recent quarter. The investment firm sold 26,100 shares of WDC which is valued $1,156,491.Cable Hill Partners reduced its stake in WDC by selling 278 shares or 56.97% in the most recent quarter. The Hedge Fund company now holds 210 shares of WDC which is valued at $9,538. Western Digital Corp makes up approx 0.01% of Cable Hill Partners’s portfolio.Jfs Wealth Advisors boosted its stake in WDC in the latest quarter, The investment management firm added 739 additional shares and now holds a total of 1,269 shares of Western Digital Corp which is valued at $67,815. Western Digital Corp makes up approx 0.02% of Jfs Wealth Advisors’s portfolio.Robeco Institutional Asset Management B.v. boosted its stake in WDC in the latest quarter, The investment management firm added 22,478 additional shares and now holds a total of 633,031 shares of Western Digital Corp which is valued at $33,170,824. Western Digital Corp makes up approx 0.24% of Robeco Institutional Asset Management B.v.’s portfolio.Coastline Trust Co boosted its stake in WDC in the latest quarter, The investment management firm added 2,430 additional shares and now holds a total of 9,750 shares of Western Digital Corp which is valued at $505,733. Western Digital Corp makes up approx 0.10% of Coastline Trust Co’s portfolio.

Western Digital Corp opened for trading at $46.18 and hit $46.7499 on the upside on Tuesday, eventually ending the session at $46.5, with a gain of 0.78% or 0.36 points. The heightened volatility saw the trading volume jump to 31,70,715 shares. Company has a market cap of $10,834 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 Reiterated by Mizuho on Aug 25, 2016 to “Buy” and Lowered the Price Target to $ 54 from a previous price target of $56 .Shares were Reiterated by Jefferies on Aug 17, 2016 to “Buy” and Lowered the Price Target to $ 54 from a previous price target of $62 .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 .

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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