Western Digital Corp (WDC) is Reiterated by Jefferies to Buy, Lowers Price Target to $ 54

Western Digital Corp (WDC) was Reiterated by Jefferies to “Buy” while Lowering the Price Target of the company shares to $ 54 from a previous price target of $62 . Jefferies advised their investors in a research report released on Aug 17, 2016.

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 .

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.

Western Digital Corp opened for trading at $44.47 and hit $46.25 on the upside on Monday, eventually ending the session at $45.84, with a gain of 3.45% or 1.53 points. The heightened volatility saw the trading volume jump to 43,34,239 shares. Company has a market cap of $10,681 M.

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.

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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