The Hartford Investment Management Co. Decreases Position in Western Digital Corporation (WDC)

Xavier Trudeau
Août 3, 2017

Reilly Financial Advisors LLC now owns 1,383 shares of the data storage provider's stock valued at $114,000 after buying an additional 460 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Western Digital Corporation by 2.8% in the first quarter.

Other institutional investors have also added to or reduced their stakes in the company. Over the past 2 quarters, Western Digital Corporation (NASDAQ:WDC) is up 7.45%, compared with a fall of almost -1.86% for 3 months and about -3.31% for the past 30 days. Iridian Asset Management LLC CT boosted its position in shares of Western Digital Corporation by 244.0% in the first quarter. Reilly Financial Advisors LLC increased its position in Western Digital Corporation by 49.8% in the first quarter. Winslow Evans & Crocker Inc. now owns 14,234 shares of the data storage provider's stock worth $1,175,000 after buying an additional 5,056 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in Western Digital Corporation during the first quarter worth $117,000. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Western Digital Corporation by 52.2% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,546 shares of the data storage provider's stock worth $375,000 after buying an additional 132 shares in the last quarter. Following the completion of the sale, the executive vice president now owns 102,202 shares of the company's stock, valued at approximately $9,114,374.36.

Shares of Western Digital Corporation (WDC) opened at 85.67 on Wednesday. Trading volume, or volume, is the number of shares or contracts that point towards the overall activity of a security or market for a given period. The stock has a 50-day moving average of $90.61 and a 200 day moving average of $84.10. The firm has a market cap of $24.64 billion, a P/E ratio of 62.96 and a beta of 1.22. Western Digital Corporation has a one year low of $43.09 and a one year high of $95.77. The data storage provider reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.42.

Let's talk about the gap between analyst price targets for the next 12 months and Western Digital Corporation (WDC)'s current share price. Revenue for the quarter also killed consensus, coming in at $4.84 Billion, compared to the consensus of 4.81 Billion. During the same quarter in the prior year, the business earned $0.79 EPS. The business's revenue was up 38.5% on a year-over-year basis. On average, equities analysts anticipate that Western Digital Corporation will post $12.29 earnings per share for the current year.

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WDC has been the subject of a number of analyst reports. Susquehanna Bancshares Inc reiterated a "positive" rating and issued a $140.00 price target on shares of Western Digital Corporation in a research note on Wednesday, May 17th. Mizuho maintained it with "Buy" rating and $66 target in Thursday, October 27 report. Deutsche Bank AG restated a "buy" rating and issued a $105.00 price objective (up previously from $88.00) on shares of Western Digital Corporation in a research report on Saturday, April 29th. Finally, Vetr raised Western Digital Corporation from a "buy" rating to a "strong-buy" rating and set a $101.80 price target on the stock in a research report on Monday, June 12th. Bank of America Corporation raised Western Digital Corporation from a "neutral" rating to a "buy" rating in a research report on Friday, April 28th.

Stock of F.N.B. Corporation (NYSE:FNB) now have an ABR of 1.22.which is marked on a basic 1 to 5 scale, where 1 stands for a Strong Buy and 5 represents Strong Sell. Virtus Investment Advisers Inc acquired 6,508 shares as Western Digital Corp (WDC)'s stock rose 15.69%.

In other news, EVP Manish H. Bhatia sold 7,208 shares of the company's stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $92.30, for a total transaction of $48,365.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

In other Western Digital Corporation news, EVP Srinivasan Sivaram sold 40,182 shares of Western Digital Corporation stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $94.24, for a total value of $2,693,850.40. Over the last ninety days, insiders have sold 227,305 shares of company stock valued at $20,209,585. The insider RAY MICHAEL CHARLES sold 15,598 shares worth $1.41 million. Company insiders own 0.46% of the company's stock.

Western Digital Corporation (Western Digital) is a developer, manufacturer and 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.

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