Western Digital Corp (WDC) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 65

Western Digital Corp (WDC) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 65 from a previous price target of $60 . RBC Capital Mkts advised their investors in a research report released on Oct 3, 2016.

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 .

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 $58.43 and hit $59.15 on the upside on Friday, eventually ending the session at $58.47, with a gain of 0.34% or 0.2 points. The heightened volatility saw the trading volume jump to 43,96,809 shares. Company has a market cap of $16,621 M.

In a different news, on Sep 29, 2016, Michael Charles Ray (EVP, Chief Legal Officer & Sec) sold 2,719 shares at $58.63 per share price. According to the SEC, on Sep 22, 2016, Michael D Cordano (President and COO) sold 7,185 shares at $54.50 per share price. On May 31, 2016, Stephen D Milligan (CEO) purchased 22,500 shares at $45.53 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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