Orinda Asset Management adds Western Digital Corp (WDC) to its portfolio

Western Digital Corp (WDC) : Orinda Asset Management added new position in Western Digital Corp during the most recent quarter end. The investment management firm now holds 24,925 shares of Western Digital Corp which is valued at $1,116,142 , the company said in a statement filed on Aug 3, 2016 with the SEC.Western Digital Corp makes up approximately 1.20% of Orinda Asset Management’s portfolio.

Other Hedge Funds, Including , Contrarius Investment Management Ltd boosted its stake in WDC in the latest quarter, The investment management firm added 318,776 additional shares and now holds a total of 1,177,995 shares of Western Digital Corp which is valued at $52,750,616. Western Digital Corp makes up approx 4.11% of Contrarius Investment Management Ltd’s portfolio.Signaturefd boosted its stake in WDC in the latest quarter, The investment management firm added 372 additional shares and now holds a total of 434 shares of Western Digital Corp which is valued at $20,619. Palouse Capital Management sold out all of its stake in WDC during the most recent quarter. The investment firm sold 40,262 shares of WDC which is valued $2,151,601.E&g Advisors Lp boosted its stake in WDC in the latest quarter, The investment management firm added 2,482 additional shares and now holds a total of 14,500 shares of Western Digital Corp which is valued at $774,880. Western Digital Corp makes up approx 0.45% of E&g Advisors Lp’s portfolio.Advocacy Wealth Management Services reduced its stake in WDC by selling 18 shares or 7.66% in the most recent quarter. The Hedge Fund company now holds 217 shares of WDC which is valued at $11,310. Western Digital Corp makes up approx 0.01% of Advocacy Wealth Management Services’s portfolio.

Western Digital Corp closed down -0.07 points or -0.15% at $45.35 with 42,22,787 shares getting traded on Monday. Post opening the session at $45.98, the shares hit an intraday low of $45.305 and an intraday high of $46.33 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

Many Wall Street Analysts have commented on Western Digital Corp. 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 .Company shares were Upgraded by Robert W. Baird on Jul 29, 2016 to ” Outperform”, Firm has raised the Price Target to $ 65 from a previous price target of $50 .Company shares were Reiterated by Cowen on Jul 29, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .

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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