Sirios Capital Management L P Lowers stake in Western Digital Corp (WDC)

Western Digital Corp (WDC) : Sirios Capital Management L P reduced its stake in Western Digital Corp by 9.87% during the most recent quarter end. The investment management company now holds a total of 1,271,142 shares of Western Digital Corp which is valued at $56,324,302 after selling 139,241 shares in Western Digital Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Western Digital Corp makes up approximately 2.59% of Sirios Capital Management L P’s portfolio.

Other Hedge Funds, Including , Dupont Capital Management Corp reduced its stake in WDC by selling 93,470 shares or 67.12% in the most recent quarter. The Hedge Fund company now holds 45,798 shares of WDC which is valued at $2,050,834. Western Digital Corp makes up approx 0.04% of Dupont Capital Management Corp’s portfolio.Trust Co Of Toledo Na Oh boosted its stake in WDC in the latest quarter, The investment management firm added 1,718 additional shares and now holds a total of 16,323 shares of Western Digital Corp which is valued at $872,301. Western Digital Corp makes up approx 0.25% of Trust Co Of Toledo Na Oh’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.

Western Digital Corp opened for trading at $45.64 and hit $47.2867 on the upside on Friday, eventually ending the session at $46.6, with a gain of 1.72% or 0.79 points. The heightened volatility saw the trading volume jump to 39,07,337 shares. Company has a market cap of $10,858 M.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *