The Western Digital Corporation (WDC) Given "Buy" Rating at Stifel Nicolaus

Paterniano Del Favero
Luglio 25, 2017

Cleararc Capital Inc. increased its stake in shares of Western Digital Corporation by 1.3% in the first quarter. The fund owned 57,363 shares of the data storage provider's stock after buying an additional 46,313 shares during the period. Nomura Holdings Inc.'s holdings in Western Digital Corporation were worth $9,318,000 as of its most recent SEC filing. Corporate insiders own 0.46% of the company's stock. Highbridge Capital Management LLC now owns 4,561 shares of the data storage provider's stock worth $310,000 after buying an additional 8,061 shares in the last quarter. Arizona State Retirement System now owns 71,313 shares of the data storage provider's stock valued at $5,885,000 after buying an additional 700 shares during the last quarter. Finally, Exane Derivatives raised its stake in Western Digital Corporation by 7,574.0% in the first quarter. They use historic price data to observe stock price patterns to predict the direction of that price going forward. Chevy Chase Trust Holdings Inc. raised its position in shares of Western Digital Corporation by 2.8% in the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider's stock valued at $2,372,032,000 after buying an additional 1,250,528 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in shares of Western Digital Corporation by 4.9% in the second quarter. Manning & Napier Advisors LLC now owns 11,050 shares of the data storage provider's stock worth $911,000 after buying an additional 408 shares in the last quarter. Western Digital Corporation traded at a P/E ratio of *TBA, suggesting the potentiality of a higher growth in the future. 260,441 shares of the company were exchanged. Market capitalization is the market value of a company's outstanding shares.

It is trading at $94.62 just above $90.39, the stock's 50 day moving average and a tad higher than the 200 day moving average of $82.86.

Western Digital Corporation (NASDAQ:WDC) last released its quarterly earnings data on Thursday, April 27th. The data storage provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.22. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.57 billion. Western Digital Corporation had a positive return on equity of 16.01% and a negative net margin of 1.32%. Western Digital Corporation's quarterly revenue was up 64.7% compared to the same quarter past year. During the same quarter in the previous year, the company posted $1.21 EPS. Equities analysts forecast that Western Digital Corporation will post $9.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $0.50 dividend. This dividend represents a yeild of $2.11 which is the dividend as a percentage of the current share price. The ex-dividend date was Wednesday, June 28th. Cornerstone Investment Prtnrs Ltd Limited Liability Company owns 2.77% invested in Western Digital Corp (NASDAQ:WDC) for 997,282 shares.

COPYRIGHT VIOLATION WARNING: This story was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this piece on another website, it was illegally copied and republished in violation of global copyright & trademark laws. The legal version of this story can be read at https://www.chaffeybreeze.com/2017/07/24/10000-shares-in-western-digital-corporation-nasdaqwdc-acquired-by-prescott-group-capital-management-l-l-c.html. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company's stock. Vetr cut shares of Western Digital Corporation from a "strong-buy" rating to a "buy" rating and set a $86.84 target price for the company.in a report on Wednesday, March 1st. BMO Capital Markets reiterated a "buy" rating and set a $104.00 price target on shares of Western Digital Corporation in a research report on Thursday, April 27th. Western Digital Corporation now has a consensus rating of Buy and an average price target of $101.31. UBS AG reissued a "neutral" rating and issued a $92.00 target price (up from $90.00) on shares of Western Digital Corporation in a research note on Wednesday, June 28th. Western Digital Corporation presently has a consensus rating of Buy and a consensus target price of $102.16.

Western Digital Corporation (NASDAQ:WDC) CFO Mark P. Long sold 17,028 shares of the firm's stock in a transaction dated Wednesday, July 19th. 13,295 Western Digital Corp (NASDAQ:WDC) shares with value of $1.16 million were sold by BHATIA MANISH H. DeMaria Jacqueline sold $1.86M worth of stock. Following the completion of the sale, the chief financial officer now directly owns 53,551 shares in the company, valued at $5,025,225.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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