Passport Capital buys $71,262,155 stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Passport Capital scooped up 1,192,343 additional shares in Western Digital Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,198,086 shares of Western Digital Corp which is valued at $71,262,155.Western Digital Corp makes up approximately 3.08% of Passport Capital’s portfolio.

Other Hedge Funds, Including , Acrospire Investment Management reduced its stake in WDC by selling 977 shares or 92.43% in the most recent quarter. The Hedge Fund company now holds 80 shares of WDC which is valued at $4,547.Municipal Employees’ Retirement System Of Michigan boosted its stake in WDC in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 12,462 shares of Western Digital Corp which is valued at $718,684. Western Digital Corp makes up approx 0.04% of Municipal Employees’ Retirement System Of Michigan’s portfolio.

Western Digital Corp opened for trading at $58.97 and hit $60.93 on the upside on Monday, eventually ending the session at $60.93, with a gain of 3.62% or 2.13 points. The heightened volatility saw the trading volume jump to 48,37,313 shares. Company has a market cap of $17,394 M.

On the company’s financial health, Western Digital Corp reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $1.05. The company had revenue of $4714.00 million for the quarter, compared to analysts expectations of $4524.22 million. The company’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.

Many Wall Street Analysts have commented on Western Digital Corp. Company shares were Reiterated by Mizuho on Oct 27, 2016 to “Buy”, Firm has raised the Price Target to $ 66 from a previous price target of $63 .Western Digital Corp was Upgraded by BofA/Merrill to ” Neutral” on Oct 27, 2016. Company shares were Reiterated by Needham on Oct 27, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 69 from a previous price target of $67 .

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *