Can Western Digital Corporation (NASDAQ:WDC) Grab Upward Traction?

Posted June 24, 2017

Western Digital Corp. now has $27.32B valuation. The stock rose 0.91% or $0.05 reaching $5.56 per share. About shares traded. Western Digital Corp (NASDAQ:WDC) has risen 125.85% since June 22, 2016 and is uptrending. It has outperformed by 109.15% the S&P500.

Gramercy Funds Management Llc, which manages about $3.11B and $194.62M US Long portfolio, decreased its stake in Royce Value Tr Inc (NYSE:RVT) by 1.05 million shares to 529,847 shares, valued at $7.10M in 2016Q4, according to the filing. Chicago Equity Partners Ltd Limited Liability Company owns 13,520 shares or 0.02% of their U.S. portfolio. About 2.26M shares traded. Office Depot Inc (NASDAQ:ODP) has risen 51.05% since June 23, 2016 and is uptrending. It has underperformed by 2.90% the S&P500. The stock of Western Digital Corp (NASDAQ:WDC) has "Buy" rating given on Thursday, April 28 by Brean Capital. Therefore 67% are positive.

Analyst Recommendations This is a summary of current recommendations and price targets for Western Digital Corporation and Dell, as reported by MarketBeat. Finally, Zacks Investment Research lowered shares of Western Digital Corporation from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 28th. The firm's market capitalization is $26.39 billion. On Wednesday, June 15 the stock rating was reinitiated by JP Morgan with "Neutral". Vetr raised Western Digital Corp from a "buy" rating to a "strong-buy" rating and set a $100.46 price target for the company in a research report on Monday. RBC Capital Markets maintained it with "Buy" rating and $11500 target in Wednesday, May 31 report. The firm has "Buy" rating by Maxim Group given on Thursday, October 27. Cowen and Company boosted their price objective on shares of Western Digital Corporation from $90.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, April 28th. During the past six months, Western Digital Corporation (NASDAQ:WDC)'s stock has been 30.89% and 86.66% for the last 12 months.

Investors sentiment decreased to 1.11 in Q4 2016. The Company's properties, North Pembina Cardium Unit No. 1, Berrymoor Cardium Unit and Lindale Cardium Unit, are located in the Pembina Cardium field. Sold All: 49 Reduced: 223 Increased: 203 New Position: 99. 42 funds opened positions while 114 raised stakes. The institutional investors in our partner's database now have: 235.90 million shares, down from 239.26 million shares in 2016Q3.

5 year sales growth rate is an important factor for valuation analysis, the 5 year sales growth of Western Digital Corporation (WDC) stands at 6.41 while the industry's and the sector's growth for next 5 years ticked at 6.54 and 4.82 respectively. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Management Corporation holds 110,000 shares. National Bank & Trust Of Ny Mellon Corporation accumulated 15,897 shares. Deutsche Bancorp Ag invested in 3.99M shares. Western Digital Corp's payout ratio is now -202.02%.

More notable recent Western Digital Corp (NASDAQ:WDC) news were published by: Bloomberg.com which released: "Toshiba Warns Western Digital in Second Letter Over Chip Sale" on June 07, 2017, also Bizjournals.com with their article: "Steve Phillpott's strategy to hit goals: Stay ahead of the "bad guys" published on June 22, 2017, Seekingalpha.com published: "When Will Western Digital Raise Its Dividend?" on June 13, 2017. Rafferty Asset Mngmt Ltd Liability Company reported 14,988 shares. The Massachusetts-based Rhumbline Advisers has invested 0.05% in WhiteWave Foods Co (NYSE:WWAV). Proshare Advisors Lc reported 97,933 shares. Mufg Americas has 0% invested in Western Digital Corp (NASDAQ:WDC) for 1,747 shares. Gramercy Funds Limited Liability owns 8.97% invested in YPF SA (ADR) (NYSE:YPF) for 1.06 million shares. Hanseatic Management Services Inc.'s holdings in Western Digital Corp were worth $1,795,000 at the end of the most recent reporting period. Blackrock Advsr Ltd Llc invested in 0.03% or 448,442 shares. Creative Planning invested in 33,459 shares or 0.01% of the stock.

Since January 9, 2017, it had 0 insider purchases, and 19 selling transactions for $28.48 million activity. 34,734 shares were sold by BHATIA MANISH H, worth $2.61M. Skandinaviska Enskilda Banken AB publ now owns 35,410 shares of the data storage provider's stock valued at $2,922,000 after buying an additional 906 shares in the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Western Digital Corporation during the first quarter valued at approximately $111,000. The stock was sold at an average price of $90.34, for a total value of $447,996.06. DeMaria Jacqueline sold $1.86M worth of stock. Ardsley Advisory Partners acquired 95,000 shares as Western Digital Corp (WDC)'s stock rose 15.69%. WDC's profit will be $610.01 million for 11.11 P/E if the $2.03 EPS becomes a reality.

Analysts expect Western Digital Corp (NASDAQ:WDC) to report $2.03 EPS on July, 27.They anticipate $1.24 EPS change or 156.96% from last quarter's $0.79 EPS.

Among 20 analysts covering Magellan Midstream Partners L.P. (NYSE:VZ), 5 have Buy rating, 0 Sell and 17 Hold. Therefore 38% are positive. WDC was included in 91 notes of analysts from July 23, 2015. DA Davidson initiated WhiteWave Foods Co (NYSE:WWAV) rating on Friday, December 11. The firm has "Outperform" rating given on Monday, August 10 by Credit Suisse. The rating was downgraded by Morgan Stanley to "Equal-Weight" on Thursday, July 23.

The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base.

In related news, EVP Michael Charles Ray sold 524 shares of the company's stock in a transaction on Friday, June 2nd. As per Thursday, January 19, the company rating was initiated by HSBC.