Simplex Trading Lowers stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Simplex Trading reduced its stake in Western Digital Corp by 80.98% during the most recent quarter end. The investment management company now holds a total of 16,674 shares of Western Digital Corp which is valued at $978,264 after selling 70,977 shares in Western Digital Corp , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Western Digital Corp makes up approximately 0.13% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in WDC in the latest quarter, The investment management firm added 637 additional shares and now holds a total of 1,257 shares of Western Digital Corp which is valued at $73,748. Western Digital Corp makes up approx 0.01% of Advisory Services Network’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in WDC in the latest quarter, The investment management firm added 85,407 additional shares and now holds a total of 225,050 shares of Western Digital Corp which is valued at $13,331,962. Western Digital Corp makes up approx 0.05% of Bnp Paribas Arbitrage Sa’s portfolio.Chevy Chase Trust Holdings reduced its stake in WDC by selling 13,081 shares or 3.65% in the most recent quarter. The Hedge Fund company now holds 344,873 shares of WDC which is valued at $20,430,277. Western Digital Corp makes up approx 0.11% of Chevy Chase Trust Holdings’s portfolio.Telemus Capital reduced its stake in WDC by selling 13,841 shares or 51.52% in the most recent quarter. The Hedge Fund company now holds 13,025 shares of WDC which is valued at $771,601. Western Digital Corp makes up approx 0.09% of Telemus Capital’s portfolio.Washington Trust Bank reduced its stake in WDC by selling 27 shares or 41.54% in the most recent quarter. The Hedge Fund company now holds 38 shares of WDC which is valued at $2,251.

Western Digital Corp opened for trading at $57.91 and hit $59.11 on the upside on Friday, eventually ending the session at $58.67, with a gain of 1.07% or 0.62 points. The heightened volatility saw the trading volume jump to 35,17,186 shares. Company has a market cap of $16,678 M.

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. Company shares were Reiterated by RBC Capital Mkts on Oct 3, 2016 to “Outperform”, Firm has raised the Price Target to $ 65 from a previous price target of $60 .Western Digital Corp was Upgraded by Longbow to ” Buy” on Sep 13, 2016. Company shares were Reiterated by Mizuho on Sep 8, 2016 to “Buy”, Firm has raised the Price Target to $ 60 from a previous price target of $54 .

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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