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

Western Digital Corp (WDC) : Amerigo Asset Management added new position in Western Digital Corp during the most recent quarter end. The investment management firm now holds 700,461 shares of Western Digital Corp which is valued at $38,721,484 , the company said in a statement filed on Oct 13, 2016 with the SEC.Western Digital Corp makes up approximately 5.07% of Amerigo Asset Management’s portfolio.

Other Hedge Funds, Including , Atria Investments reduced its stake in WDC by selling 340 shares or 3.12% in the most recent quarter. The Hedge Fund company now holds 10,558 shares of WDC which is valued at $597,794. Western Digital Corp makes up approx 0.06% of Atria Investments’s portfolio.Centurylink Investment Management Co boosted its stake in WDC in the latest quarter, The investment management firm added 12,768 additional shares and now holds a total of 19,131 shares of Western Digital Corp which is valued at $1,083,197. Western Digital Corp makes up approx 0.37% of Centurylink Investment Management Co’s portfolio. Fox Run Management L.l.c. sold out all of its stake in WDC during the most recent quarter. The investment firm sold 13,700 shares of WDC which is valued $775,694. Hilton Capital Management added WDC to its portfolio by purchasing 16,187 company shares during the most recent quarter which is valued at $959,242. Western Digital Corp makes up approx 0.25% of Hilton Capital Management’s portfolio.

Western Digital Corp closed down -2.64 points or -4.45% at $56.62 with 63,87,849 shares getting traded on Tuesday. Post opening the session at $59.26, the shares hit an intraday low of $56.05 and an intraday high of $59.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. 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 .

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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