Economy

Western Digital (WDC) Releases Q3 Earnings Guidance

Western Digital (WDC) Releases Q3 Earnings Guidance

Several other brokerages have also recently commented on WDC.

8x8 shares have increased 14 percent since the beginning of the year. Sun Life Financial INC now owns 2,121 shares of the data storage provider's stock worth $188,000 after purchasing an additional 2,108 shares during the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd lifted its stake in shares of Western Digital by 102.3% in the fourth quarter. The company said the net loss was due to a $1.6 billion repatriation tax as a result of the Tax Cuts and Jobs Act.

"We continued our strong financial performance in the December quarter, with nine percent year-over-year revenue growth, driven by each of our major end-market categories and solid execution by our team", Steve Milligan, CEO of Western Digital, said in a statement. This repurchase authorization permits the data storage provider to purchase shares of its stock through open market purchases. First Republic Investment Management Inc. now owns 116,791 shares of the data storage provider's stock valued at $10,091,000 after buying an additional 3,280 shares in the last quarter. There are plenty of places on Investors.com to research and find top stocks, but when you're looking to get a broader idea on top tech stocks, IBD's Tech Leaders feature is worth reviewing.

Western Digital (NASDAQ:WDC) issued an update on its third quarter earnings guidance on Thursday morning. CENTRAL TRUST Co's holdings in Western Digital were worth $542,000 as of its most recent SEC filing.

Western Digital Corporation (NASDAQ:WDC)'s short interest is 13.19 million shares, or 4.59% of the float. 8,519,094 shares of the company were exchanged. Western Digital Corp (Put) now has $26.03 billion valuation.

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Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, January 25th. During the same quarter in the previous year, the company posted $2.30 earnings per share. analysts predict that Western Digital will post 12.21 EPS for the current year.

Western Digital Corporation (NASDAQ:WDC) gross margin percentage stands at 34% while its operating margin for the past trailing twelve month is 13.4 percent and its overall profit margin (ttm) is 7.4 Percent. The data storage provider reported $3.95 EPS for the quarter, topping analysts' consensus estimates of $3.51 by $0.44. During the same period in the prior year, the company earned $0.79 EPS.

X Western Digital reported revenue of $5.3 billion, up 9% from the year-ago quarter and in line with views for its fiscal second quarter ended December 29. On average, equities research analysts anticipate that Western Digital Corporation will post $12.54 earnings per share for the current fiscal year. Dynamic Advsrs Solutions Limited Liability Company reported 2,782 shares. Investors of record on Friday, December 29th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.27%. Western Digital had 150 analyst reports since July 23, 2015 according to SRatingsIntel. Insider ownership increased by a total of 28131 shares, which suggests that WDC's key executives are feeling more optimistic about the outlook for the stock. BidaskClub raised Western Digital from a "hold" rating to a "buy" rating in a research note on Tuesday, October 17th. Maxim Group restated a "buy" rating and issued a $108.00 price objective on shares of Western Digital Corporation in a report on Wednesday, June 21st. They set a "neutral" rating and a $90.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock.

Moving average convergence divergence (MACD) shows that the stock is on a PRICE RELATIVITY trend. Fairholme Capital Management Llc sold 355,350 shares as the company's stock rose 3.98% with the market. The company's beta value is at 1.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 20,130 shares were sold by BHATIA MANISH H, worth $1.66M on Friday, August 18. The shares were sold at an average price of $88.13, for a total transaction of $393,676.71.

The company now has an insider ownership of 0.3 Percent and Institutional ownership of 87.5 Percent.


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