Revenue Update on Western Digital Corp(NASDAQ:WDC)

Western Digital Corp(NASDAQ:WDC) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $3.50B. Analysts estimated a revenue of $3.44B. Earnings per share were $0.79. Analysts had estimated an EPS of $0.70.

In a different note, On Jul 7, 2016, JP Morgan said it Maintains its rating on Western Digital Corp. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 15, 2016, JP Morgan said it Assumes its rating on Western Digital Corp. The shares have been rated ‘Neutral’ by the firm. On Jun 7, 2016, Maxim Group said it Upgrades its rating on Western Digital Corp. The shares have been rated ‘Buy’ by the firm. On Jun 6, 2016, Goldman Sachs said it Reinstates its rating on Western Digital Corp. The shares have been rated ‘Neutral’ by the firm. On Jun 2, 2016, Jefferies said it Maintains its rating on Western Digital Corp. In the research note, the firm Raises the price-target to $54.00 per share. The shares have been rated ‘Buy’ by the firm. On May 27, 2016, Morgan Stanley said it Maintains its rating on Western Digital Corp. In the research note, the firm Lowers the price-target to $53.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Western Digital Corp (WDC) shares turned negative on Thursdays trading session with the shares closing down -0.48 points or -1.07% at a volume of 41,99,287. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.92. The peak price level was also seen at $44.92 while the days lowest was $44.3. Finally the shares closed at $44.3. The 52-week high of the shares is $86.39 while the 52-week low is $34.99. According to the latest information available, the market cap of the company is $10,322 M.

Several Insider Transactions has been reported to the SEC. On May 31, 2016, Stephen D Milligan (CEO) purchased 22,500 shares at $45.53 per share price.Also, On Dec 9, 2015, Michael Charles Ray (EVP, Chief Legal Officer & Sec) sold 1,863 shares at $63.59 per share price.On Nov 10, 2015, Matthew E Massengill (director) sold 1,187 shares at $67.75 per share price, according to the Form-4 filing with the securities and exchange commission.

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 *

Western Digital Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Western Digital Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.