Western Digital Gets Infusion

Unisplendour will have the right to nominate one representative to the Western Digital board of directors following the investment. Leonetti Olivier sold 4,463 shares worth $361,949. The stock price is expected to vary based on the estimate which is suggested by the standard deviation value of $19.32 The company shares have dropped 22.74% in the past 52 Weeks. The sale was disclosed in a filing with the SEC, which is available at this link. Following the completion of the sale, the insider now directly owns 57,188 shares of the company’s stock, valued at approximately $4,603,062.12.

Western Digital Corporation (NASDAQ:WDC): The mean short term price target for Western Digital Corporation (NASDAQ:WDC) has been established at $102.13 per share. The Georgia-based fund Cornerstone Investment Partners Llc is also positive about the stock, possessing 106,561 shares or 3.47% of their United States long equity exposure.

Western Digital’s market cap is now $16.04B and has a P/E ratio of 11.2. Shares traded up almost 6% in the premarket, at $44.24 in a 52-week range of $41.58 to $69.40.

Over the last 6 months, Western Digital Corp. During the same quarter in the prior year, the business earned $1.85 EPS. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.35 billion. The institutional ownership of this company in the last quarter is extremely high, at 87.82% of the shares outstanding. Stephen’s stock deal is probably such and shows that the President & CEO expects Western Digital Corp’s stock price to decrease. This represents a $2.00 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, September 30th.

Several other research firms have also recently issued reports on WDC. The rating by Sterne Agee CRT was issued on September 28, 2015.

Tsinghua’s investment in Western Digital is subject to regulatory approvals. The company’s shares opened today at $78.79. Three analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The $91.50 average target is 14.62% above today’s ($79.83) stock price.

Western Digital Corp is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments & other organizations to create, manage, experience & preserve digital content. Its products include HDDs and SSDs.

Solid-state drives, which are priced higher than hard disk drives, are increasingly being used in PCs, laptops and data centers due to their speed and efficiency. Solid-State Drives, are semiconductor and non volatile media.