Live Price Coverage: What’s in Western Digital Corp After Today’s Huge Increase?

Live Price Coverage: What's in Western Digital Corp After Today's Huge Increase?

The stock of Western Digital Corp (NASDAQ:WDC) is a huge mover today! About 1.73 million shares traded hands. Western Digital Corp (NASDAQ:WDC) has risen 39.81% since April 26, 2016 and is uptrending. It has outperformed by 34.55% the S&P500.
The move comes after 8 months positive chart setup for the $18.40 billion company. It was reported on Nov, 29 by Barchart.com. We have $66.93 PT which if reached, will make NASDAQ:WDC worth $920.00M more.

Analysts await Western Digital Corp (NASDAQ:WDC) to report earnings on January, 26. They expect $1.72 earnings per share, up 7.50% or $0.12 from last year’s $1.6 per share. WDC’s profit will be $496.52M for 9.26 P/E if the $1.72 EPS becomes a reality. After $1.18 actual earnings per share reported by Western Digital Corp for the previous quarter, Wall Street now forecasts 45.76% EPS growth.

Western Digital Corp (NASDAQ:WDC) Ratings Coverage

Out of 28 analysts covering Western Digital (NASDAQ:WDC), 19 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 68% are positive. Western Digital has been the topic of 73 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was initiated by Cowen & Co with “Market Perform” on Monday, April 11. The rating was maintained by Maxim Group on Thursday, October 27 with “Buy”. The rating was maintained by Morgan Stanley on Friday, May 27 with “Equal-Weight”. The company was maintained on Monday, January 18 by RBC Capital Markets. The firm has “Outperform” rating by Wells Fargo given on Thursday, August 27. Mizuho maintained Western Digital Corp (NASDAQ:WDC) rating on Thursday, August 25. Mizuho has “Buy” rating and $54 price target. The company was maintained on Thursday, July 30 by Maxim Group. Brean Capital maintained Western Digital Corp (NASDAQ:WDC) rating on Tuesday, March 15. Brean Capital has “Buy” rating and $120 price target. Deutsche Bank maintained the stock with “Buy” rating in Wednesday, October 21 report. The firm has “Outperform” rating given on Tuesday, May 24 by Cowen & Co.

According to Zacks Investment Research, “Western Digital Corp. designs, develops, manufactures and markets a broad line of hard drives featuring leading-edge technology. The company’s hard drives are designed for the desktop PC market and the high-end hard drive market and, recently, for the emerging market for hard drives specially designed for audio-visual applications, such as new video recording devices. The company sells its products worldwide to computer manufacturers for inclusion in their computer systems or subsystems and to distributors, resellers and retailers.”

Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 1.02, from 2.15 in 2016Q1. The ratio dived, as 54 funds sold all Western Digital Corp shares owned while 132 reduced positions. 120 funds bought stakes while 280 increased positions. They now own 241.54 million shares or 6.73% more from 226.31 million shares in 2016Q1.
Natixis last reported 0.02% of its portfolio in the stock. Grantham Mayo Van Otterloo And Communications Ltd Llc accumulated 0.01% or 53,272 shares. Livforsakringsbolaget Skandia Omsesidigt reported 52,860 shares or 0.11% of all its holdings. Bnp Paribas Investment Prtnrs holds 26,875 shares or 0.01% of its portfolio. Trexquant Limited Partnership, a Connecticut-based fund reported 9,900 shares. Vanguard Group has invested 0.07% of its portfolio in Western Digital Corp (NASDAQ:WDC). Cadence Cap Ltd holds 0.2% or 57,396 shares in its portfolio. Bessemer Gp holds 0% of its portfolio in Western Digital Corp (NASDAQ:WDC) for 5,942 shares. Citigroup last reported 128,704 shares in the company. Teacher Retirement System Of Texas last reported 0.06% of its portfolio in the stock. Hanlon Invest Management holds 97,893 shares or 0.4% of its portfolio. Jacobs Levy Equity Mgmt holds 0.51% or 522,960 shares in its portfolio. Shinko Asset Mngmt Co Limited last reported 0% of its portfolio in the stock. Tci Wealth Advsrs holds 177 shares or 0% of its portfolio. Oregon Employees Retirement Fund has 67,094 shares for 0.07% of their US portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 8 insider sales for $2.34 million net activity. DENERO HENRY T sold $100,499 worth of stock. MASSENGILL MATTHEW E also sold $125,348 worth of Western Digital Corp (NASDAQ:WDC) shares. 18,250 shares with value of $1.08M were sold by CORDANO MICHAEL D on Monday, October 3. Another trade for 22,500 shares valued at $1.02 million was bought by MILLIGAN STEPHEN D. 1,000 shares were sold by RAY MICHAEL CHARLES, worth $60,000.

Another recent and important Western Digital Corp (NASDAQ:WDC) news was published by Investorplace.com which published an article titled: “3 Big Stock Charts: ConocoPhillips (COP), Western Digital Corp (WDC) and …” on October 31, 2016.

WDC Company Profile

Western Digital Corporation (Western Digital), incorporated on October 26, 2000, is a developer, maker and well-known provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions). The Firm also generates license and royalty revenue related to its intellectual property which is included in each of the three categories.

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