Credit Capital Investments Lowers stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Credit Capital Investments reduced its stake in Western Digital Corp by 76.79% during the most recent quarter end. The investment management company now holds a total of 9,010 shares of Western Digital Corp which is valued at $408,604 after selling 29,812 shares in Western Digital Corp , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Western Digital Corp makes up approximately 0.31% of Credit Capital Investments’s portfolio.

Other Hedge Funds, Including , Fuller Thaler Asset Management sold out all of its stake in WDC during the most recent quarter. The investment firm sold 800 shares of WDC which is valued $36,336.Cibc World Markets boosted its stake in WDC in the latest quarter, The investment management firm added 948 additional shares and now holds a total of 32,840 shares of Western Digital Corp which is valued at $1,720,816. Western Digital Corp makes up approx 0.01% of Cibc World Markets’s portfolio. Bremer Trust National Association sold out all of its stake in WDC during the most recent quarter. The investment firm sold 1,826 shares of WDC which is valued $95,682.

Western Digital Corp closed down -1.05 points or -2.29% at $44.73 with 47,30,129 shares getting traded on Wednesday. Post opening the session at $45, the shares hit an intraday low of $44.43 and an intraday high of $45.4 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.

Investors should note that on Aug 3, 2016, Western Digital Corp announced a cash dividend of $0.5000. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 17, 2016.

Many Wall Street Analysts have commented on Western Digital Corp. Shares were Reiterated by Jefferies on Aug 17, 2016 to “Buy” and Lowered the Price Target to $ 54 from a previous price target of $62 .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 .

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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