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

Western Digital Corp (WDC) was Reiterated by Mizuho to “Buy” while Lowering the Price Target of the company shares to $ 54 from a previous price target of $56 . Mizuho advised their investors in a research report released on Aug 25, 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 .

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 $46.18 and hit $46.7499 on the upside on Tuesday, eventually ending the session at $46.5, with a gain of 0.78% or 0.36 points. The heightened volatility saw the trading volume jump to 31,70,715 shares. Company has a market cap of $10,834 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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