Palo Capital buys $4,104,387 stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Palo Capital scooped up 47,524 additional shares in Western Digital Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 78,328 shares of Western Digital Corp which is valued at $4,104,387.Western Digital Corp makes up approximately 1.36% of Palo Capital’s portfolio.

Other Hedge Funds, Including , Rockefeller Financial Services Inc reduced its stake in WDC by selling 76 shares or 15.54% in the most recent quarter. The Hedge Fund company now holds 413 shares of WDC which is valued at $21,641.Blb&b Advisors reduced its stake in WDC by selling 532 shares or 1.03% in the most recent quarter. The Hedge Fund company now holds 51,315 shares of WDC which is valued at $2,661,709. Western Digital Corp makes up approx 0.49% of Blb&b Advisors’s portfolio.Livforsakringsbolaget Skandia Omsesidigt boosted its stake in WDC in the latest quarter, The investment management firm added 15,700 additional shares and now holds a total of 52,860 shares of Western Digital Corp which is valued at $2,755,063. Western Digital Corp makes up approx 0.12% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio. Davis R M Inc sold out all of its stake in WDC during the most recent quarter. The investment firm sold 3,126 shares of WDC which is valued $162,927.Washington Trust Bank reduced its stake in WDC by selling 786 shares or 92.36% in the most recent quarter. The Hedge Fund company now holds 65 shares of WDC which is valued at $3,208.

Western Digital Corp opened for trading at $51.57 and hit $52.18 on the upside on Wednesday, eventually ending the session at $51.87, with a gain of 1.31% or 0.67 points. The heightened volatility saw the trading volume jump to 41,75,849 shares. Company has a market cap of $12,086 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.

Many Wall Street Analysts have commented on Western Digital Corp. Mizuho Upgraded Western Digital Corp on Jun 7, 2016 to ” Buy”, Price Target of the shares are set at $53.Western Digital Corp was Resumed by Goldman to “Neutral” on Jun 6, 2016. Shares were Reiterated by Maxim Group on May 27, 2016 to “Buy” and Lowered the Price Target to $ 71 from a previous price target of $75 .

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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