Amerigo Asset Management Exits Position in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Amerigo Asset Management 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 Jul 15, 2016 with the SEC. The investment management company has sold out 4,259,775 shares of Western Digital Corp which is valued at $222,019,473.

Other Hedge Funds, Including , James Investment Research Inc sold out all of its stake in WDC during the most recent quarter. The investment firm sold 253,350 shares of WDC which is valued $13,204,602.Nn Investment Partners Holdings N.v. reduced its stake in WDC by selling 9,157 shares or 13.16% in the most recent quarter. The Hedge Fund company now holds 60,435 shares of WDC which is valued at $3,143,224. Western Digital Corp makes up approx 0.03% of Nn Investment Partners Holdings N.v.’s portfolio.Raymond James Trust N.a. reduced its stake in WDC by selling 1,158 shares or 17.35% in the most recent quarter. The Hedge Fund company now holds 5,516 shares of WDC which is valued at $272,215. Western Digital Corp makes up approx 0.02% of Raymond James Trust N.a.’s portfolio.

Western Digital Corp opened for trading at $51.66 and hit $52.16 on the upside on Monday, eventually ending the session at $52.12, with a gain of 0.89% or 0.46 points. The heightened volatility saw the trading volume jump to 29,53,540 shares. Company has a market cap of $12,144 M.

On the company’s financial health, Western Digital Corp reported $1.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.29. The company had revenue of $2822.00 million for the quarter, compared to analysts expectations of $2879.53 million. The company’s revenue was down -20.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.87 EPS.

Many Wall Street Analysts have commented on Western Digital Corp. Mizuho Upgraded Western Digital Corp on Jun 7, 2016 to ” Buy”, Price Target of the shares are set at $53.Western Digital Corp was Resumed by Goldman to “Neutral” on Jun 6, 2016. Shares were Reiterated by Maxim Group on May 27, 2016 to “Buy” and Lowered the Price Target to $ 71 from a previous price target of $75 .

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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