Pacific Alternative Asset Management Company adds Western Digital Corp (WDC) to its portfolio

Western Digital Corp (WDC) : Pacific Alternative Asset Management Company added new position in Western Digital Corp during the most recent quarter end. The investment management firm now holds 210,629 shares of Western Digital Corp which is valued at $7.5 Million , the company said in a statement filed on May 12, 2016 with the SEC.Western Digital Corp makes up approximately 5.14% of Pacific Alternative Asset Management Company’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities reduced its stake in WDC by selling 75,337 shares or 36.51% in the most recent quarter. The Hedge Fund company now holds 131,036 shares of WDC which is valued at $4.6 Million. Western Digital Corp makes up approx 0.04% of Sg Americas Securities’s portfolio.Blackrock Advisors reduced its stake in WDC by selling 181,334 shares or 9.52% in the most recent quarter. The Hedge Fund company now holds 1,723,709 shares of WDC which is valued at $61.1 Million. Western Digital Corp makes up approx 0.07% of Blackrock Advisors’s portfolio. Bedell Frazier Investment Counseling sold out all of its stake in WDC during the most recent quarter. The investment firm sold 80,655 shares of WDC which is valued $2.9 Million. Quantitative Investment Management added WDC to its portfolio by purchasing 46,500 company shares during the most recent quarter which is valued at $1.7 Million. Western Digital Corp makes up approx 0.08% of Quantitative Investment Management’s portfolio.Rhumbline Advisers boosted its stake in WDC in the latest quarter, The investment management firm added 10,691 additional shares and now holds a total of 304,870 shares of Western Digital Corp which is valued at $11.4 Million. Western Digital Corp makes up approx 0.04% of Rhumbline Advisers’s portfolio.

Western Digital Corp opened for trading at $39.01 and hit $40.37 on the upside on Friday, eventually ending the session at $39.56, with a gain of 3.10% or 1.19 points. The heightened volatility saw the trading volume jump to 60,77,115 shares. Company has a market cap of $11,133,648 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. 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 Corp was Downgraded by BofA/Merrill to ” Underperform” on May 13, 2016. Shares were Downgraded by Robert W. Baird on Apr 29, 2016 to ” Neutral” and Lowered the Price Target to $ 50 from a previous price target of $55 .

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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