Blue Rock Advisors Exits Position in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Blue Rock Advisors has sold out all of its stake in Western Digital Corp during the most recent quarter, according to the disclosure filed by the company on Aug 9, 2016 with the SEC. The investment management company has sold out 2,832 shares of Western Digital Corp which is valued at $128,431.

Other Hedge Funds, Including , Newfound Research added WDC to its portfolio by purchasing 20 company shares during the most recent quarter which is valued at $878.Gsa Capital Partners Llp reduced its stake in WDC by selling 10,834 shares or 60.88% in the most recent quarter. The Hedge Fund company now holds 6,962 shares of WDC which is valued at $316,214. Western Digital Corp makes up approx 0.02% of Gsa Capital Partners Llp’s portfolio.Cadence Capital Management boosted its stake in WDC in the latest quarter, The investment management firm added 10,612 additional shares and now holds a total of 57,396 shares of Western Digital Corp which is valued at $2,570,193. Western Digital Corp makes up approx 0.19% of Cadence Capital Management’s portfolio.California State Teachers Retirement System boosted its stake in WDC in the latest quarter, The investment management firm added 15,765 additional shares and now holds a total of 615,092 shares of Western Digital Corp which is valued at $27,543,820. Western Digital Corp makes up approx 0.06% of California State Teachers Retirement System’s portfolio.Hermes Investment Management Ltd boosted its stake in WDC in the latest quarter, The investment management firm added 15,579 additional shares and now holds a total of 196,133 shares of Western Digital Corp which is valued at $10,277,369. Western Digital Corp makes up approx 0.20% of Hermes Investment Management Ltd’s portfolio.

Western Digital Corp closed down -1.05 points or -2.29% at $44.73 with 47,30,129 shares getting traded on Wednesday. Post opening the session at $45, the shares hit an intraday low of $44.43 and an intraday high of $45.4 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Western Digital Corp reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.71. The company had revenue of $3495.00 million for the quarter, 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.

Investors should note that on Aug 3, 2016, Western Digital Corp announced a cash dividend of $0.5000. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 17, 2016.

Many Wall Street Analysts have commented on Western Digital Corp. Shares were Reiterated by Jefferies on Aug 17, 2016 to “Buy” and Lowered the Price Target to $ 54 from a previous price target of $62 .Shares were Downgraded by Goldman on Aug 3, 2016 to ” Sell” and Lowered the Price Target to $ 38 from a previous price target of $47 .Company shares were Upgraded by Robert W. Baird on Jul 29, 2016 to ” Outperform”, Firm has raised the Price Target to $ 65 from a previous price target of $50 .

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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