Western Digital Corp (WDC) Releases Earnings Results, Beats Expectations By $0.08 EPS

Western Digital Corp (WDC) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.79 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.71. The company posted revenue of $3495.00 million in the period, 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.

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 Corp opened for trading at $53.3 and hit $54.13 on the upside on Thursday, eventually ending the session at $53.7, with a gain of 0.49% or 0.26 points. The heightened volatility saw the trading volume jump to 50,00,231 shares. Company has a market cap of $12,512 M.

In a different news, on May 31, 2016, Stephen D Milligan (CEO) purchased 22,500 shares at $45.53 per share price. According to the SEC, on Dec 9, 2015, Michael Charles Ray (EVP, Chief Legal Officer & Sec) sold 1,863 shares at $63.59 per share price. On Nov 10, 2015, Matthew E Massengill (director) sold 1,187 shares at $67.75 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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