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 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 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.

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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".

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