Pacific Alternative Asset Management Company Exits Position in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Pacific Alternative Asset Management Company 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 15, 2016 with the SEC. The investment management company has sold out 210,629 shares of Western Digital Corp which is valued at $9,332,971.

Other Hedge Funds, Including , Lombard Odier Asset Management (switzerland) Sa boosted its stake in WDC in the latest quarter, The investment management firm added 24,051 additional shares and now holds a total of 31,316 shares of Western Digital Corp which is valued at $1,387,612. Western Digital Corp makes up approx 0.15% of Lombard Odier Asset Management (switzerland) Sa’s portfolio. Scotia Capital sold out all of its stake in WDC during the most recent quarter. The investment firm sold 10,165 shares of WDC which is valued $450,411. San Francisco Sentry Investment Group (ca) sold out all of its stake in WDC during the most recent quarter. The investment firm sold 9,478 shares of WDC which is valued $429,827.Boston Partners reduced its stake in WDC by selling 1,274,323 shares or 48.32% in the most recent quarter. The Hedge Fund company now holds 1,363,108 shares of WDC which is valued at $61,912,365. Western Digital Corp makes up approx 0.09% of Boston Partners’s portfolio.Mutual Of America Capital Management reduced its stake in WDC by selling 14,762 shares or 26.63% in the most recent quarter. The Hedge Fund company now holds 40,675 shares of WDC which is valued at $1,821,427. Western Digital Corp makes up approx 0.04% of Mutual Of America Capital Management’s portfolio.

Western Digital Corp closed down -0.35 points or -0.75% at $46.32 with 30,15,138 shares getting traded on Thursday. Post opening the session at $46.67, the shares hit an intraday low of $45.702 and an intraday high of $47.0799 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.

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 Mizuho on Aug 25, 2016 to “Buy” and Lowered the Price Target to $ 54 from a previous price target of $56 .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 .

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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