Maple Rock Capital Partners adds Western Digital Corp (WDC) to its portfolio

Western Digital Corp (WDC) : Maple Rock Capital Partners added new position in Western Digital Corp during the most recent quarter end. The investment management firm now holds 350,000 shares of Western Digital Corp which is valued at $20,818,000 , the company said in a statement filed on Nov 14, 2016 with the SEC.Western Digital Corp makes up approximately 7.56% of Maple Rock Capital Partners’s portfolio.

Other Hedge Funds, Including , Qcm Cayman Ltd. sold out all of its stake in WDC during the most recent quarter. The investment firm sold 6,530 shares of WDC which is valued $388,404.Parkside Financial Bank Trust boosted its stake in WDC in the latest quarter, The investment management firm added 46 additional shares and now holds a total of 89 shares of Western Digital Corp which is valued at $5,059.Howard Hughes Medical Institute reduced its stake in WDC by selling 49,080 shares or 92.18% in the most recent quarter. The Hedge Fund company now holds 4,161 shares of WDC which is valued at $236,511. Western Digital Corp makes up approx 0.06% of Howard Hughes Medical Institute’s portfolio.Next Financial Group Inc boosted its stake in WDC in the latest quarter, The investment management firm added 1,913 additional shares and now holds a total of 2,177 shares of Western Digital Corp which is valued at $120,170. Western Digital Corp makes up approx 0.02% of Next Financial Group Inc’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.

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