Western Digital Corp (WDC) is Reiterated by Maxim Group to Buy, Lowers Price Target to $ 75

Western Digital Corp (WDC) was Reiterated by Maxim Group to “Buy” while Lowering the Price Target of the company shares to $ 75 from a previous price target of $101 . Maxim Group advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on Western Digital Corp. Western Digital Corp was Downgraded by Longbow to ” Neutral” on Apr 13, 2016. Cowen Initiated Western Digital Corp on Apr 11, 2016 to “Market Perform”, Price Target of the shares are set at $46.Company shares were Reiterated by Mizuho on Mar 15, 2016 to “Neutral”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .

On the company’s financial health, Western Digital Corp reported $1.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $1.54. The company had revenue of $3317.00 million for the quarter, compared to analysts expectations of $3347.18 million. The company’s revenue was down -14.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.26 EPS.

Western Digital Corp opened for trading at $43.36 and hit $44.84 on the upside on Friday, eventually ending the session at $43.66, with a gain of 0.72% or 0.31 points. The heightened volatility saw the trading volume jump to 44,39,853 shares. Company has a market cap of $10,163 M.

In a different news, on Dec 9, 2015, Michael Charles Ray (EVP, Chief Legal Officer & Sec) sold 1,863 shares at $63.59 per share price. According to the SEC, on Nov 10, 2015, Matthew E Massengill (director) sold 1,187 shares at $67.75 per share price. On Nov 4, 2015, Stephen D Milligan (Chief Executive Officer) sold 6,239 shares at $66.33 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Western Digital Corp

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