Breaking: Western Digital (NASDAQ:WDC) “Neutral” Rating Reconfirmed by UBS Today; The Price Objective is Set to $93

October 13, 2017 - By Nellie Frank

 Breaking: Western Digital (NASDAQ:WDC)

Investors sentiment increased to 1.12 in Q2 2017. Its up 0.11, from 1.01 in 2017Q1. It increased, as 41 investors sold Western Digital Corp shares while 243 reduced holdings. 101 funds opened positions while 216 raised stakes. 233.59 million shares or 1.07% more from 231.11 million shares in 2017Q1 were reported.

Natixis Asset Mgmt invested 0.09% of its portfolio in Western Digital Corp (NASDAQ:WDC). The Pennsylvania-based Commonwealth Of Pennsylvania School Empls Retrmt has invested 0.03% in Western Digital Corp (NASDAQ:WDC). Hillsdale Invest Management holds 0.1% or 5,560 shares. Twin Tree Mgmt L P holds 34,480 shares. Natl Pension stated it has 0.16% of its portfolio in Western Digital Corp (NASDAQ:WDC). 142,007 were reported by Redwood Ltd Limited Liability Company. Cibc Ww Mkts Corporation stated it has 0.22% in Western Digital Corp (NASDAQ:WDC). Freestone Cap Ltd Llc owns 8,863 shares or 0.06% of their US portfolio. 920,414 are held by Cornerstone Prtnrs Lc. Dorsey & Whitney Trust Com Lc accumulated 5,070 shares or 0.09% of the stock. Palo holds 0.78% in Western Digital Corp (NASDAQ:WDC) or 15,630 shares. Hudock Capital Llc reported 197 shares. Legal General Grp Public Limited Company invested in 1.45 million shares or 0.1% of the stock. Caxton Lp holds 16,200 shares or 0.01% of its portfolio. Regentatlantic Cap Lc holds 0.31% or 38,721 shares in its portfolio.

Since April 28, 2017, it had 0 insider purchases, and 13 sales for $16.65 million activity. Sivaram Srinivasan had sold 40,182 shares worth $3.58M. Another trade for 57,846 shares valued at $5.03 million was sold by LONG MARK P. Shares for $48,365 were sold by RAY MICHAEL CHARLES. DeMaria Jacqueline sold 21,410 shares worth $1.86 million. Shares for $1.16M were sold by BHATIA MANISH H on Monday, May 1. CORDANO MICHAEL D also sold $447,996 worth of Western Digital Corp (NASDAQ:WDC) on Monday, May 8.

Western Digital (NASDAQ:WDC) Rating Reaffirmed

New York: In an analyst report made public on Thursday morning, UBS reconfirmed their “Neutral” rating on Western Digital (NASDAQ:WDC) shares. They now have a $93 target price on the company. UBS’s target gives a potential upside of 5.92 % from the company’s stock close price.

Investors sentiment increased to 1.12 in Q2 2017. Its up 0.11, from 1.01 in 2017Q1. It increased, as 41 investors sold Western Digital Corp shares while 243 reduced holdings. 101 funds opened positions while 216 raised stakes. 233.59 million shares or 1.07% more from 231.11 million shares in 2017Q1 were reported.

Natixis Asset Mgmt invested 0.09% of its portfolio in Western Digital Corp (NASDAQ:WDC). The Pennsylvania-based Commonwealth Of Pennsylvania School Empls Retrmt has invested 0.03% in Western Digital Corp (NASDAQ:WDC). Hillsdale Invest Management holds 0.1% or 5,560 shares. Twin Tree Mgmt L P holds 34,480 shares. Natl Pension stated it has 0.16% of its portfolio in Western Digital Corp (NASDAQ:WDC). 142,007 were reported by Redwood Ltd Limited Liability Company. Cibc Ww Mkts Corporation stated it has 0.22% in Western Digital Corp (NASDAQ:WDC). Freestone Cap Ltd Llc owns 8,863 shares or 0.06% of their US portfolio. 920,414 are held by Cornerstone Prtnrs Lc. Dorsey & Whitney Trust Com Lc accumulated 5,070 shares or 0.09% of the stock. Palo holds 0.78% in Western Digital Corp (NASDAQ:WDC) or 15,630 shares. Hudock Capital Llc reported 197 shares. Legal General Grp Public Limited Company invested in 1.45 million shares or 0.1% of the stock. Caxton Lp holds 16,200 shares or 0.01% of its portfolio. Regentatlantic Cap Lc holds 0.31% or 38,721 shares in its portfolio.

Since April 28, 2017, it had 0 insider purchases, and 13 sales for $16.65 million activity. Sivaram Srinivasan had sold 40,182 shares worth $3.58M. Another trade for 57,846 shares valued at $5.03 million was sold by LONG MARK P. Shares for $48,365 were sold by RAY MICHAEL CHARLES. DeMaria Jacqueline sold 21,410 shares worth $1.86 million. Shares for $1.16M were sold by BHATIA MANISH H on Monday, May 1. CORDANO MICHAEL D also sold $447,996 worth of Western Digital Corp (NASDAQ:WDC) on Monday, May 8.

Western Digital Corp (NASDAQ:WDC) Ratings Coverage

Among 35 analysts covering Western Digital (NASDAQ:WDC), 24 have Buy rating, 1 Sell and 10 Hold. Therefore 69% are positive. Western Digital has $140 highest and $39 lowest target. $104.23’s average target is 18.71% above currents $87.8 stock price. Western Digital had 132 analyst reports since July 23, 2015 according to SRatingsIntel. The stock has “Buy” rating by Stifel Nicolaus on Wednesday, July 5. The stock of Western Digital Corp (NASDAQ:WDC) earned “Neutral” rating by Robert W. Baird on Monday, October 2. Loop Capital Markets initiated Western Digital Corp (NASDAQ:WDC) rating on Monday, July 24. Loop Capital Markets has “Buy” rating and $14000 target. The stock of Western Digital Corp (NASDAQ:WDC) earned “Buy” rating by Guggenheim on Friday, July 28. Deutsche Bank maintained Western Digital Corp (NASDAQ:WDC) rating on Monday, January 11. Deutsche Bank has “Buy” rating and $80.0 target. BTIG Research maintained the shares of WDC in report on Friday, July 28 with “Buy” rating. UBS maintained Western Digital Corp (NASDAQ:WDC) on Thursday, October 12 with “Neutral” rating. Needham maintained it with “Strong Buy” rating and $100 target in Thursday, January 26 report. The company was maintained on Wednesday, December 7 by Deutsche Bank. As per Friday, August 4, the company rating was maintained by RBC Capital Markets.

The stock increased 2.38% or $2.04 during the last trading session, reaching $87.8. About 5.28 million shares traded or 23.65% up from the average. Western Digital Corp (NASDAQ:WDC) has risen 125.85% since October 13, 2016 and is uptrending. It has outperformed by 109.15% the S&P500.

Analysts expect Western Digital Corp (NASDAQ:WDC) to report $3.00 EPS on October, 25.They anticipate $1.82 EPS change or 154.24 % from last quarter’s $1.18 EPS. WDC’s profit would be $885.65M giving it 7.32 P/E if the $3.00 EPS is correct. After having $2.63 EPS previously, Western Digital Corp’s analysts see 14.07 % EPS growth.

Western Digital Corporation 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 has market cap of $25.92 billion. 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). It has a 68.54 P/E ratio.

More notable recent Western Digital Corp (NASDAQ:WDC) news were published by: Businesswire.com which released: “Western Digital Unveils Next-Generation Technology to Preserve and Access the …” on October 11, 2017, also Benzinga.com with their article: “What Uncertainty Around Toshiba’s Future Means For Western Digital” published on October 05, 2017, Streetinsider.com published: “Baird Downgrades Western Digital Corp. (WDC) to Neutral” on October 02, 2017. More interesting news about Western Digital Corp (NASDAQ:WDC) were released by: Streetinsider.com and their article: “UPDATE: Deutsche Bank Downgrades Western Digital Corp. (WDC) to Hold” published on October 05, 2017 as well as Bizjournals.com‘s news article titled: “Toshiba courts Western Digital for joint investment in new chip line” with publication date: October 13, 2017.

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