Western Digital, Toshiba settle fight over chip unit sale

Tammy Harvey
December 14, 2017

Since August 3, 2017, it had 0 insider purchases, and 4 selling transactions for $1.18 million activity. It is the same, as 41 investors sold WDC shares while 243 reduced holdings. only 101 funds opened positions while 216 raised stakes. The two firms own joint stakes in a Japanese NAND factory, leaving WD in a tough position, given that Toshiba could sell its stake off to a major competitor. J Goldman And Commerce LP has invested 0.01% in Western Digital Corporation (NASDAQ:WDC). Cwm Ltd Liability Co accumulated 337 shares or 0% of the stock. Highbridge Limited Liability holds 2,600 shares. Bank of New York Mellon Corp now owns 3,281,695 shares of the data storage provider's stock worth $283,538,000 after acquiring an additional 598,563 shares during the last quarter. 6,419,857 shares of the stock traded hands, compared to its average volume of 4,160,839. Also, the Hold rating count is 0, as of 12/11/2017. Jefferies maintained Western Digital Corporation (NASDAQ:WDC) rating on Thursday, June 2. Quantitative Systematic Strategies Ltd Liability Co has invested 0.18% in Western Digital Corporation (NASDAQ:WDC). Amica Pension Fund Board Of Trustees has invested 0.16% of its portfolio in Western Digital Corporation (NASDAQ:WDC). The count of Hold ratings in that period was 0. Maxim Group reissued a "buy" rating and set a $108.00 price objective on shares of Western Digital in a research report on Wednesday, August 30th. The company holds 295.00 million outstanding shares and 293.85 million shares are floating in market. Dnb Asset Mgmt As invested in 0% or 348,315 shares. State Of Alaska Department Of Revenue holds 5,265 shares. 233.59 million shares or 1.07% more from 231.11 million shares in 2017Q1 were reported. Sivaram Srinivasan sold 3,098 shares worth $263,330.

Mark Travis decreased its stake in Western Digital Corp Com (WDC) by 38.56% based on its latest 2017Q2 regulatory filing with the SEC. London Co Of Virginia sold 379,483 shares as the company's stock declined 6.13% while stock markets rallied. Flash Alliance will now run to the end of 2029, while Flash Forward runs to the end of 2027. Intrepid Capital Management Inc who had been investing in Western Digital Corp Com for a number of months, seems to be less bullish one the $24.19B market cap company.

The stock increased 0.91% or $0.74 during the last trading session, reaching $81.94. Looking at the other side of the coin, WDC traded as low as $65.08 in the past 52 weeks, and since then the shares have risen 25.65% or $16.69.

From another technical standpoint, Western Digital Corporation (NASDAQ:WDC)'s 14-day Relative Strength Index (RSI) has reached 43.38, putting it inside a neutral zone. It has outperformed by 109.15% the S&P500. Western Digital's quarterly revenue was up 9.9% compared to the same quarter last year. analysts forecast that Western Digital will post 12.01 earnings per share for the current fiscal year. WDC's profit will be $993.86 million for 6.08 P/E if the $3.36 EPS becomes a reality.

More notable recent Western Digital Corporation (NASDAQ:WDC) news were published by: Seekingalpha.com which released: "Toshiba, Western Digital to settle chip dispute" on December 08, 2017, also Investorplace.com with their article: "Why Lower Memory Prices Will Hit Western Digital Corp Stock Hard" published on November 30, 2017, Reuters.com published: "Toshiba, Western Digital aiming to settle chip dispute next week: sources" on December 08, 2017. (NASDAQ:LSTR) were released by: Seekingalpha.com and their article: "Landstar System's (LSTR) CEO Jim Gattoni on Q3 2017 Results - Earnings Call ..." published on October 28, 2017 as well as Seekingalpha.com's news article titled: "Landstar System - Focus Is On 2018" with publication date: August 21, 2017.

Western Digital (NASDAQ:WDC) was upgraded by investment analysts at Summit Redstone from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday. Therefore 69% are positive.

Western Digital had injected itself into Toshiba's attempts to find a buyer, tried to join a rival bidding consortium and, according to the Toshiba side, made the whole process more hard. The company has a consensus rating of "Buy" and an average target price of $113.10. Finally, ValuEngine downgraded shares of Western Digital from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 1st. Citigroup set a $110.00 price target on Western Digital and gave the company a buy rating in a research note on Monday, August 21st.

RBC Capital Markets analyst Amit Daryanani maintained an outperform rating on Western Digital and a price target of 115. Needham maintained the stock with "Strong Buy" rating in Thursday, October 27 report. UBS initiated Western Digital Corporation (NASDAQ:WDC) rating on Thursday, September 10.

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