Seizert Capital Partners buys $65.3 Million stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Seizert Capital Partners scooped up 1,096,037 additional shares in Western Digital Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 1,841,304 shares of Western Digital Corp which is valued at $65.3 Million.Western Digital Corp makes up approximately 2.27% of Seizert Capital Partners’s portfolio.

Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in WDC in the latest quarter, The investment management firm added 13,455 additional shares and now holds a total of 527,650 shares of Western Digital Corp which is valued at $18.7 Million. Western Digital Corp makes up approx 0.13% of Teacher Retirement System Of Texas’s portfolio.Clark Estates Incny boosted its stake in WDC in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 29,200 shares of Western Digital Corp which is valued at $1 Million. Western Digital Corp makes up approx 0.21% of Clark Estates Incny’s portfolio.Calvert Investment Management boosted its stake in WDC in the latest quarter, The investment management firm added 956 additional shares and now holds a total of 12,632 shares of Western Digital Corp which is valued at $470,795. Western Digital Corp makes up approx 0.02% of Calvert Investment Management’s portfolio.Nisa Investment Advisors L.l.c. reduced its stake in WDC by selling 700 shares or 0.64% in the most recent quarter. The Hedge Fund company now holds 107,834 shares of WDC which is valued at $4.4 Million. Western Digital Corp makes up approx 0.06% of Nisa Investment Advisors L.l.c.’s portfolio.Aperio Group boosted its stake in WDC in the latest quarter, The investment management firm added 25,590 additional shares and now holds a total of 76,802 shares of Western Digital Corp which is valued at $3.1 Million. Western Digital Corp makes up approx 0.03% of Aperio Group’s portfolio.

Western Digital Corp opened for trading at $35.43 and hit $35.85 on the upside on Monday, eventually ending the session at $35.57, with a gain of 0.37% or 0.13 points. The heightened volatility saw the trading volume jump to 66,21,623 shares. Company has a market cap of $8,288 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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