Orca Investment Management Lowers stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Orca Investment Management reduced its stake in Western Digital Corp by 0.67% during the most recent quarter end. The investment management company now holds a total of 61,709 shares of Western Digital Corp which is valued at $3,297,729 after selling 416 shares in Western Digital Corp , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Western Digital Corp makes up approximately 3.09% of Orca Investment Management’s portfolio.

Other Hedge Funds, Including , Shell Asset Management Co boosted its stake in WDC in the latest quarter, The investment management firm added 3,703 additional shares and now holds a total of 17,947 shares of Western Digital Corp which is valued at $959,088. Western Digital Corp makes up approx 0.02% of Shell Asset Management Co’s portfolio.Wealthtrust-arizona reduced its stake in WDC by selling 4 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 558 shares of WDC which is valued at $29,239. Western Digital Corp makes up approx 0.02% of Wealthtrust-arizona’s portfolio. Americafirst Capital Management added WDC to its portfolio by purchasing 2,277 company shares during the most recent quarter which is valued at $118,108. Western Digital Corp makes up approx 0.08% of Americafirst Capital Management’s portfolio.Sentinel Trust Co Lba boosted its stake in WDC in the latest quarter, The investment management firm added 22,460 additional shares and now holds a total of 110,437 shares of Western Digital Corp which is valued at $5,728,367. Western Digital Corp makes up approx 0.80% of Sentinel Trust Co Lba’s portfolio.

Western Digital Corp closed down -6.19 points or -11.53% at $47.51 with 1,76,58,950 shares getting traded on Friday. Post opening the session at $50.77, the shares hit an intraday low of $47.05 and an intraday high of $51 and the price fluctuated in this range throughout the day.Shares ended Friday 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 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 .Mizuho Upgraded Western Digital Corp on Jun 7, 2016 to ” Buy”, Price Target of the shares are set at $53.

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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