Mizuho Securities:Western Digital Corp (NYSE:WDC) Valuation Insights


How Mizuho Securities Currently Rates Western Digital Corp (NYSE:WDC)

In an interesting research report issued to clients and investors on Friday, 11 December, Mizuho Securities analyst just began issuing coverage of Western Digital Corp (NYSE:WDC) with “Neutral” rating.

From a total of 23 analysts covering Western Digital Corp. (NYSE:WDC) stock, 20 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 80% of the ratings are positive. The highest target price is $150 while the lowest target price is $69. The mean of all analyst targets is $96.35 with a 54.00% above today’s ($61.95) stock price. Western Digital Corp. was the topic of 12 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus maintained shares on October 29 with “Buy” rating. UBS initiated shares with “Sell” rating and $71 target share price in a report from a September 10. Maxim Group maintained WDC stock in a recent report from October 19 with “Buy” rating. CLSA upgraded the rating on July 31. CLSA has a “Outperform” rating and a $93 price target on shares. Finally, Sterne Agee CRT initiated the stock with “Buy” rating in a report issued on a September 29.

Approximately 1.55M shares of stock traded hands. Western Digital Corp (NYSE:WDC) has declined 34.37% since May 8, 2015 and is downtrending. It has underperformed by 31.35% the S&P500.

The overall sentiment of institutions has decreased to 0.95 in Q2 2015. Its down 0.05, from 1 in 2015Q2. The ratio dived, as 74 institutions have sold all the shares of Western Digital Corp that they owned while 200 funds have taken shares off the table. 50 funds have purchased shares for the first time while 210 added to their positions. These institutions now hold 187.33 million shares or 7.25% less than the 201.98 million shares they owned in 2015Q2.

The Fund Alken Asset Management Ltd. currently is holding shares equating to 31.06% of its total portfolio in Western Digital Corp representing a total of 6.86 million shares. Another fund,Karamaan Group Llc, is holding a total of 103,799 shares equating to 8.57% of their holdings. Additionally, Sls Management Llc has a 93,750 share stake in Western Digital Corp which represents 5.69% of their total portfolio. The Fund, Ivory Investment Management. L.P., based out of California, has also built up a stake in the stock, which represents a total of 4.54% of their total portfolio. Finally Zenit Asset Management Ab, a fund which is based in the state of Sweden reported a total holdings of 233,292 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 5, 2015, shareholders of Western Digital Corp have witnessed 0 insider purchases, and a total of 20 selling transactions equating to a net activity of approximately $9.23 million . Long Mark P sold 878 shares worth approximately $72,198. Cordano Michael D sold 2,849 shares worth approximately $227,920. Milligan Stephen D sold 2,291 shares worth approximately $163,328. Ray Michael Charles sold 1,825 shares worth approximately $147,405. The company insider Leonetti Olivier sold 4,463 shares worth $361,949.

Western Digital Corporation, is a data storage solutions company. The company has a market cap of $14.99 billion. The Firm is a developer, maker and well-known provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. It has 11.03 P/E ratio. The Company’s Technology product includes: Hard Disk Drives and Solid-State Drives.

According to Zacks Investment Research, “Western Digital Corp. designs, develops, manufactures and markets a broad line of hard drives featuring leading-edge technology. The company’s hard drives are designed for the desktop PC market and the high-end hard drive market and, recently, for the emerging market for hard drives specially designed for audio-visual applications, such as new video recording devices. The company sells its products worldwide to computer manufacturers for inclusion in their computer systems or subsystems and to distributors, resellers and retailers.” Get a free copy of the Zacks research report on Western Digital Corp (WDC).