Fort Pitt Capital Group Lowers stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Fort Pitt Capital Group reduced its stake in Western Digital Corp by 0.48% during the most recent quarter end. The investment management company now holds a total of 113,042 shares of Western Digital Corp which is valued at $5,062,021 after selling 544 shares in Western Digital Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Western Digital Corp makes up approximately 0.60% of Fort Pitt Capital Group’s portfolio.

Other Hedge Funds, Including , Shelton Capital Management reduced its stake in WDC by selling 2,629 shares or 14.55% in the most recent quarter. The Hedge Fund company now holds 15,440 shares of WDC which is valued at $691,403. Western Digital Corp makes up approx 0.06% of Shelton Capital Management’s portfolio. Deprince Race Zollo Inc added WDC to its portfolio by purchasing 628,808 company shares during the most recent quarter which is valued at $33,603,500. Western Digital Corp makes up approx 0.65% of Deprince Race Zollo Inc’s portfolio.Parkwood reduced its stake in WDC by selling 3,350 shares or 10.95% in the most recent quarter. The Hedge Fund company now holds 27,235 shares of WDC which is valued at $1,427,114. Western Digital Corp makes up approx 0.23% of Parkwood’s portfolio.Leavell Investment Management boosted its stake in WDC in the latest quarter, The investment management firm added 9,650 additional shares and now holds a total of 10,843 shares of Western Digital Corp which is valued at $562,426. Western Digital Corp makes up approx 0.08% of Leavell Investment Management’s portfolio. Amarillo National Bank sold out all of its stake in WDC during the most recent quarter. The investment firm sold 811 shares of WDC which is valued $42,180.

Western Digital Corp closed down -0.48 points or -1.07% at $44.3 with 41,99,287 shares getting traded on Thursday. Post opening the session at $44.62, the shares hit an intraday low of $44.3 and an intraday high of $44.92 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

Many Wall Street Analysts have commented on Western Digital Corp. 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 .Company shares were Reiterated by Cowen on Jul 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 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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