Western Digital Corp. raised its earnings and revenue expectations for the September quarter on better-than-expected product mix following its acquisition of SanDisk.
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In addition to Cowen reporting it’s price target, a total of 25 firms have released a ratings update on the company. The company now has a rating of Sector Perform on the stock. WDC’s value Change from Open was at 7.55% with a Gap of 4.23%. Western Digital Corp. has a 12 month low of $34.99 and a 12 month high of $86.39.
The price/earnings ratio (P/E) is 44.64 and the forward P/E ratio stands at 8.47. The stock’s 50-day moving average is $47.23 and its 200 day moving average is $45.68. The data storage provider reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.08. A look on the firm performance, its monthly performance is 3.90% and a quarterly performance of 12.05%. During the same quarter previous year, the business earned $1.51 EPS. Stockholders of record on Friday, September 30th will be paid a dividend of $0.50 per share.
Investors should note that on Aug 3, 2016, Western Digital Corp announced a cash dividend of $0.5000. LUV attains analyst recommendation of 2.10 with week’s performance of 4.03%. The consolidated price target from 14 rating analysts who initiate coverage on the stock is $60.36 and the possibility the share price can swing is $14.7. 3,256,790 shares of the stock were exchanged. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. The company presently has a consensus rating of “Buy” and an average target price of $63.15.
Several institutional investors recently bought and sold shares of WDC. Checchi Capital Advisers LLC now owns 2,197 shares of the data storage provider’s stock worth $104,000 after buying an additional 107 shares during the last quarter. Now shares have been rated as “Buy” from “2” brokerage firms and “5” brokerage firms say as “Strong Buy”. WDC last month stock price volatility remained 2.97%. DnB Asset Management AS now owns 876,780 shares of the data storage provider’s stock worth $41,419,000 after buying an additional 554,337 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in shares of Western Digital Corp.by 5.7% in the second quarter. The joint venture company will also invest in the development of new products and enhancements to Western Digital’s products to create innovative solutions that address the evolving needs of the big data market in China. The company has begun to fold in the SanDisk business, which has brought more customers and a broader portfolio of hard- drive and flash-storage products.
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