Economy

Western Digital Corporation (WDC) Stock Rating Upgraded by Zacks Investment Research

Western Digital Corporation (WDC) Stock Rating Upgraded by Zacks Investment Research”

Data-storage device maker Western Digital Corp reported better-than-expected quarterly revenue on demand for its memory chips from smartphone makers and datacenter operators. Institutional owners hold 85.40% stake in the company, while insiders ownership held at 0.20%.

A number of other equities research analysts have also recently issued reports on the company. BHATIA MANISH H had sold 13,295 shares worth $1.16 million. Now we take an assessment of last twelve months period, where stock moved higher with performance of 62.76%. Amica Retiree Medical Trust increased its stake in Western Digital Corp.by 28.9% in the second quarter. Analysts are forecasting earnings of $3.3 on a per share basis this quarter. Revenue during the quarter was $4.84 billion, representing 39% growth from $3.5 billion in year-ago quarter. Legal & General Group Plc now owns 1,325,881 shares of the data storage provider's stock worth $109,431,000 after purchasing an additional 42,579 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its holdings in Western Digital Corporation by 9.9% in the 1st quarter. The stock declined 1.88% or $1.68 reaching $87.7 on the news. The stock has come under scrutiny from analysts who've all, for the most part, examined its upside and future movement. Citigroup initiated the shares of WDC in report on Wednesday, January 27 with "Buy" rating. Vetr cut Western Digital Corporation from a "strong-buy" rating to a "buy" rating and set a $93.86 price objective on the stock.in a research note on Tuesday, October 10th. Western Digital Corporation has a one year low of $54.26 and a one year high of $95.77.

Analyst Recommendations are opinions given by analysts to their clients about whether a given stock is worth buying or not. Checchi Capital Advisers LLC now owns 2,197 shares of the data storage provider's stock worth $104,000 after buying an additional 107 shares in the last quarter. In terms of performance, year to date, the stock is 23.99%. While the stock has a nice low price tag to it, does it have any value? Following the completion of the transaction, the insider now owns 90,683 shares of the company's stock, valued at $7,662,713.50. Currently Analysts have a mean recommendation of 2.00 on the shares. The total dollar value of all 292.00 million outstanding shares is 25.49 billion. Institutional investors own 86.77% of the company's stock. The disclosure for this sale can be found here. This analysis is based on historical data about the stock's monthly performance given the overall trends of the market and particular indicators within the market.

TRADEMARK VIOLATION NOTICE: This article was originally reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of USA & global copyright and trademark law. LONG MARK P sold $5.03M worth of Western Digital Corp (NASDAQ:WDC) on Monday, May 1. About 179,442 shares traded. Cornerstone Advisors Inc. now owns 2,245 shares of the data storage provider's stock worth $106,000 after buying an additional 121 shares in the last quarter. The Texas-based U S Global Investors Inc has invested 0.35% in the stock. The stock closing price is now trading downward to its 50 day moving average with change of -1.86%, tumbled to its 20 day moving average with figure of -4.41% and above its 200 day moving average with value 19.99%.

Western Digital Corporation most recently reported earnings per share (EPS) of $2.93 for the June 2017 versus $0.79 in the same quarter previous year, representing 271% growth. The data storage provider reported $2.93 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $2.51 by $0.42. Shares for $3.58 million were sold by Sivaram Srinivasan on Thursday, May 4.

Receive Western Digital Corporation News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital Corporation with MarketBeat.com's FREE daily email newsletter.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.50 dividend. On Thursday, September 14 the stock rating was maintained by Jefferies with "Buy".



Like this

loading...
loading...

Latest


27 October 2017
TESLA fires hundreds - is Buffalo affected?
Tesla is also close to announcing a production plant in China , which would make electric cars for Chinese and Asian markets. The union has been trying for years to organize the factory, where roughly 10,000 of Tesla's 33,000 employees work.

27 October 2017
Curry Calls $50K Fine An 'Expensive Mouthpiece Toss'
The Raptors even swung the scoreboard back in their favor and took a five-point advantage, 112-107, with 2:13 remaining. Curry sunk two more free throws to ice the game, a nice topper for his layup and game-winning three.

27 October 2017
BB&T Corp Cuts Holdings in Interpublic Group of Companies, Inc. (The) (IPG)
Have you taken a look at the chart for The Interpublic Group of Companies, Inc . (NYSE: IPG ) in a report released on Friday. Pivotal Research reaffirmed a "buy" rating and set a $23.00 price target on shares of Interpublic Group of Companies, Inc.

27 October 2017
Sofia Richie banned from seeing Scott Disick's kids
The collection is said to be filled with sequined dresses, faux fur jackets, and sparkly biker shorts. She wore a sparkling black dress that featured a low neckline and spaghetti straps to the event.

27 October 2017
Fiat Chrysler Automobiles NV (FCAU)- Stocks Luring Investors Focus
Relative volume is the comparison of current volume to average volume for the same time of day, and it's displayed as a ratio. US stocks had their worst day in two months on Wednesday as a batch of corporate earnings reports disappointed investors.

27 October 2017
Marshawn Lynch returns to his high school to run over teenagers
Oakland Raiders star running back Marshawn Lynch showed up at his old high school this week to suit up for a football practice. At first he runs over a few players before they eventually get one over on him by gang tackling him for a loss.

27 October 2017
Georgia Bulldogs: Playoff Hopes Starting to Look Like Reality
Now comes the true freshman's first time playing in Jacksonville against Florida on Saturday. "I think this kid has grown". The Gators have done what it takes to beat Georgia the last three years. "It's a goal of mine to just keep winning".

26 October 2017
Controversy Erupts over 10-Year-Old Illegally in US Needing Surgery
For now, it's unclear how long Rosa Maria will be in the facility, Gonzalez said, but they were told the case would be expedited. As of 2016, there are 35 permanent interior checkpoints and hundreds of "temporary" checkpoints set up to stem drug trafficking.

26 October 2017
'Veronica Mars' revival is "going to happen", according to Kristen Bell
The film was funded by a Kickstarter campaign that Bell and Thomas launched, which gained more than $5.7 million in total. She has appeared on Broadway in THE CRUCIBLE and THE ADVENTURES OF TOM SAWYER, and now stars in NBC's THE GOOD PLACE .

26 October 2017
Trump readies opioid plan, but some worry it won't be enough
Thursday's declaration also allows the Department of Labor to issue grants to help dislocated workers affected by the crisis. It now contains just $57,000 (€48,000), according to the Department of Health and Human Services, a negligible amount.