Insider Filing On Watch: Michael Ray, an Insider in Western Digital Corp (NASDAQ:WDC), Sold 5589 shares of the Company

November 30, 2016 - By olga

Insider Filing On Watch: Michael Ray, an Insider in Western Digital Corp (NASDAQ:WDC), Sold 5589 shares of the Company

Michael Ray Insider Sell

In an electronic document which was filled with the SEC, it was made public that the EVP – Chief Legal Officer & Sec of Western Digital Corp Michael Ray, an insider in bear’s eye, made a deal for 5,589 shares of the California-based Western Digital Corp, having a total value of $352,722 USD using an average price per share of $63.1 USD. He also unloaded 1,000 shares with a total value of about $60,000 USD in the last month. Currently, Mr. Michael, has 41,413 shares, which accounts for 0.01% of the Company’s market cap.

Western Digital Corp (NASDAQ:WDC) Ratings Coverage

Out of 28 analysts covering Western Digital (NASDAQ:WDC), 19 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 68% are positive. $140 is the highest target while $39 is the lowest. The $70.52 average target is 12.53% above today’s ($62.67) stock price. Western Digital has been the topic of 73 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was initiated by Summit Research with “Buy” on Monday, March 28. Robert W. Baird downgraded the shares of WDC in a report on Friday, April 29 to “Neutral” rating. The firm has “Buy” rating by Brean Capital given on Thursday, April 28. On Wednesday, September 7 the stock rating was maintained by Cowen & Co with “Outperform”. The rating was upgraded by Credit Agricole on Thursday, July 30 to “Outperform”. The rating was maintained by Brean Capital with “Buy” on Tuesday, March 15. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, July 23. The firm has “Buy” rating given on Thursday, August 25 by Mizuho. As per Thursday, June 2, the company rating was maintained by Jefferies. The stock of Western Digital Corp (NASDAQ:WDC) earned “Neutral” rating by Mizuho on Friday, December 11.

Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 1.02, from 2.15 in 2016Q1. The ratio turned negative, as 54 funds sold all Western Digital Corp shares owned while 132 reduced positions. 120 funds bought stakes while 280 increased positions. They now own 241.54 million shares or 6.73% more from 226.31 million shares in 2016Q1.

Moreover, Exane Derivatives has 0% invested in Western Digital Corp (NASDAQ:WDC) for 466 shares. Peak6 Invests L P holds 0.04% or 99,190 shares in its portfolio. Guyasuta Investment holds 10,213 shares or 0.06% of its portfolio. Strs Ohio holds 0% or 12,150 shares in its portfolio. Moreover, Pinnacle Assoc has 0.06% invested in Western Digital Corp (NASDAQ:WDC) for 54,780 shares. Howard Hughes Institute holds 0.85% of its portfolio in Western Digital Corp (NASDAQ:WDC) for 53,241 shares. Saba Cap Limited Partnership holds 39,000 shares or 0.16% of its portfolio. Sumitomo Mitsui Trust Hldgs has 0.06% invested in the company for 782,424 shares. Retirement Sys Of Alabama last reported 0.04% of its portfolio in the stock. Spot Trading Llc, a Illinois-based fund reported 5,600 shares. Mutual Of Omaha Commercial Bank Wealth Mgmt has 0.2% invested in the company for 6,000 shares. Pnc Fincl reported 59,698 shares or 0% of all its holdings. Grp One Trading L P, a Illinois-based fund reported 42,781 shares. Lucus Advsrs Ltd Limited Liability Company reported 7,519 shares or 0.29% of all its holdings. Prudential Public Limited Com has 0.02% invested in the company for 128,361 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, and 8 sales for $2.34 million net activity. MILLIGAN STEPHEN D had bought 22,500 shares worth $1.02 million. RAY MICHAEL CHARLES had sold 1,000 shares worth $60,000 on Monday, November 14. CORDANO MICHAEL D had sold 889 shares worth $50,148 on Monday, November 7. 2,187 Western Digital Corp (NASDAQ:WDC) shares with value of $125,348 were sold by MASSENGILL MATTHEW E. DENERO HENRY T sold $100,499 worth of Western Digital Corp (NASDAQ:WDC) on Tuesday, November 8.

The stock increased 0.64% or $0.4 during the last trading session, hitting $62.67. About 5.05 million shares traded hands or 14.00% up from the average. Western Digital Corp (NASDAQ:WDC) has risen 39.81% since April 26, 2016 and is uptrending. It has outperformed by 34.55% the S&P500.

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 a market cap of $18.09 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 currently has negative earnings.

According to Zacks Investment Research, “Western Digital Corp. designs, develops, manufactures and markets a broad line of hard drives featuring leading-edge technology. The company’s hard drives are designed for the desktop PC market and the high-end hard drive market and, recently, for the emerging market for hard drives specially designed for audio-visual applications, such as new video recording devices. The company sells its products worldwide to computer manufacturers for inclusion in their computer systems or subsystems and to distributors, resellers and retailers.”

Analysts await Western Digital Corp (NASDAQ:WDC) to report earnings on January, 26. They expect $1.72 earnings per share, up 7.50% or $0.12 from last year’s $1.6 per share. WDC’s profit will be $496.49M for 9.11 P/E if the $1.72 EPS becomes a reality. After $1.18 actual earnings per share reported by Western Digital Corp for the previous quarter, Wall Street now forecasts 45.76% EPS growth.

Another recent and important Western Digital Corp (NASDAQ:WDC) news was published by Investorplace.com which published an article titled: “3 Big Stock Charts: ConocoPhillips (COP), Western Digital Corp (WDC) and ..” on October 31, 2016.

WDC Company Profile

Western Digital Corporation (Western Digital), incorporated on October 26, 2000, 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’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). The Firm also generates license and royalty revenue related to its intellectual property which is included in each of the three categories.

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