Today UBS Maintains a “Neutral” Rating on Western Digital (NASDAQ:WDC) and a $93 Target Price

October 13, 2017 - By Ellis Scott

 Today UBS Maintains a

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.

Td Asset Management has 0.02% invested in Western Digital Corp (NASDAQ:WDC) for 110,014 shares. Fmr Ltd Liability Corporation has invested 0.04% in Western Digital Corp (NASDAQ:WDC). Public Employees Retirement Association Of Colorado invested in 55,117 shares. The Australia-based Amp Invsts Ltd has invested 0.08% in Western Digital Corp (NASDAQ:WDC). Sirios Cap Mgmt L P has 3.4% invested in Western Digital Corp (NASDAQ:WDC) for 773,014 shares. Bessemer Group invested in 3,731 shares. Deutsche Bankshares Ag invested 0.06% of its portfolio in Western Digital Corp (NASDAQ:WDC). Spectrum Mngmt Group reported 22,012 shares. Hartford Investment Mgmt holds 0.11% or 65,569 shares in its portfolio. Monetta Inc holds 1.25% or 25,000 shares. Plante Moran Financial Advsr Lc has 84 shares. Ameritas Invest invested in 0.05% or 11,749 shares. Citadel Advsrs Limited Company reported 2.79 million shares. Boys Arnold & Communication Inc reported 0.04% of its portfolio in Western Digital Corp (NASDAQ:WDC). New York-based First Manhattan has invested 0% in Western Digital Corp (NASDAQ:WDC).

Since April 28, 2017, it had 0 insider purchases, and 13 selling transactions for $16.65 million activity. The insider BHATIA MANISH H sold $1.16 million. Shares for $962,385 were sold by CORDANO MICHAEL D. 15,598 Western Digital Corp (NASDAQ:WDC) shares with value of $1.41 million were sold by RAY MICHAEL CHARLES. On Monday, May 1 the insider DeMaria Jacqueline sold $1.86 million. LONG MARK P sold 11,631 shares worth $1.03M. Sivaram Srinivasan sold 40,182 shares worth $3.58 million.

Western Digital (NASDAQ:WDC) Rating Reaffirmed

Western Digital (NASDAQ:WDC) just had their share rating of a ‘”Neutral”‘ issued by research analysts at UBS, who now has a $93 target price per share on the $25.92B market cap company or a 5.92 % upside potential. This key information was released in a report on 12 October.

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.

Td Asset Management has 0.02% invested in Western Digital Corp (NASDAQ:WDC) for 110,014 shares. Fmr Ltd Liability Corporation has invested 0.04% in Western Digital Corp (NASDAQ:WDC). Public Employees Retirement Association Of Colorado invested in 55,117 shares. The Australia-based Amp Invsts Ltd has invested 0.08% in Western Digital Corp (NASDAQ:WDC). Sirios Cap Mgmt L P has 3.4% invested in Western Digital Corp (NASDAQ:WDC) for 773,014 shares. Bessemer Group invested in 3,731 shares. Deutsche Bankshares Ag invested 0.06% of its portfolio in Western Digital Corp (NASDAQ:WDC). Spectrum Mngmt Group reported 22,012 shares. Hartford Investment Mgmt holds 0.11% or 65,569 shares in its portfolio. Monetta Inc holds 1.25% or 25,000 shares. Plante Moran Financial Advsr Lc has 84 shares. Ameritas Invest invested in 0.05% or 11,749 shares. Citadel Advsrs Limited Company reported 2.79 million shares. Boys Arnold & Communication Inc reported 0.04% of its portfolio in Western Digital Corp (NASDAQ:WDC). New York-based First Manhattan has invested 0% in Western Digital Corp (NASDAQ:WDC).

Since April 28, 2017, it had 0 insider purchases, and 13 selling transactions for $16.65 million activity. The insider BHATIA MANISH H sold $1.16 million. Shares for $962,385 were sold by CORDANO MICHAEL D. 15,598 Western Digital Corp (NASDAQ:WDC) shares with value of $1.41 million were sold by RAY MICHAEL CHARLES. On Monday, May 1 the insider DeMaria Jacqueline sold $1.86 million. LONG MARK P sold 11,631 shares worth $1.03M. Sivaram Srinivasan sold 40,182 shares worth $3.58 million.

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. Robert W. Baird downgraded the shares of WDC in report on Monday, October 2 to “Neutral” rating. BMO Capital Markets upgraded it to “Outperform” rating and $90 target in Thursday, January 5 report. The stock of Western Digital Corp (NASDAQ:WDC) has “Outperform” rating given on Wednesday, September 7 by Cowen & Co. Jefferies maintained the shares of WDC in report on Tuesday, July 4 with “Hold” rating. As per Monday, January 18, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating given on Thursday, April 28 by Brean Capital. FBN Securities maintained Western Digital Corp (NASDAQ:WDC) rating on Tuesday, June 27. FBN Securities has “Buy” rating and $11500 target. Maxim Group maintained Western Digital Corp (NASDAQ:WDC) on Wednesday, October 12 with “Buy” rating. BTIG Research maintained the stock with “Buy” rating in Friday, July 28 report. The firm has “Buy” rating given on Thursday, January 26 by Stifel Nicolaus.

The stock increased 2.38% or $2.04 during the last trading session, reaching $87.8. About 5.28M 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.

Investors wait Western Digital Corp (NASDAQ:WDC) to report on October, 25. its quarterly earnings Wall Street analysts expect $3.00 earnings per share, up $1.82 or 154.24 % from last year’s $1.18 same quarter earnings. This translates into $885.65M profit for WDC giving the stock a 7.32 P/E. This is assuming the current $3.00 EPS is accurate. Western Digital Corp’s Wall Street analysts see 14.07 % EPS growth, taking into account the $2.63 EPS reproted in the previous quarter,

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: Streetinsider.com which released: “Western Digital Corp. (WDC) PT Lowered to $93 at UBS; ‘C2018 Looks Weaker than …” on October 12, 2017, also Businesswire.com with their article: “Western Digital Unveils Next-Generation Technology to Preserve and Access the …” published on October 11, 2017, Benzinga.com published: “What Uncertainty Around Toshiba’s Future Means For Western Digital” on October 05, 2017. More interesting news about Western Digital Corp (NASDAQ:WDC) were released by: Bizjournals.com and their article: “Toshiba courts Western Digital for joint investment in new chip line” published on October 13, 2017 as well as Reuters.com‘s news article titled: “Western Digital to seek injunction to block Toshiba’s $18 billion chip unit sale” with publication date: September 26, 2017.

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