Mark Travis increased its stake in Western Digital Corp Com (WDC) by 72.22% based on its latest 2016Q3 regulatory filing with the SEC. Intrepid Capital Management Inc bought 98,974 shares as the company’s stock rose 25.82% with the market. The hedge fund run by Mark Travis held 236,023 shares of the electronic components company at the end of 2016Q3, valued at $13.80 million, up from 137,049 at the end of the previous reported quarter. Intrepid Capital Management Inc who had been investing in Western Digital Corp Com for a number of months, seems to be bullish on the $20.65 billion market cap company. The stock decreased 1.42% or $1.02 during the last trading session, hitting $70.84. Western Digital Corp (NASDAQ:WDC) has risen 42.42% since June 7, 2016 and is uptrending. It has outperformed by 35.00% the S&P500.
Intrepid Capital management was founded in 1994 and maintains its base in Florida. A mid-sized value fund, it is managed by Mark Travis and concentrates on portfolios that target high absolute returns.
Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q3. Its down 1.02, from 2.15 in 2016Q2. The ratio is negative, as 71 funds sold all WDC shares owned while 202 reduced positions. 99 funds bought stakes while 209 increased positions. They now own 239.26 million shares or 0.94% less from 241.54 million shares in 2016Q2. Johnson Investment Counsel holds 0.04% or 19,316 shares in its portfolio. Ladenburg Thalmann Financial Services holds 7,693 shares or 0.01% of its portfolio. Capstone Asset Mngmt owns 27,235 shares or 0.05% of their US portfolio. Mcf Advsrs Lc owns 15 shares or 0% of their US portfolio. Mason Street Advsrs Ltd holds 0.06% of its portfolio in Western Digital Corp (NASDAQ:WDC) for 38,455 shares. Natixis Asset Mngmt has 13,301 shares for 0.08% of their US portfolio. Tcw Group last reported 1.63M shares in the company. The Connecticut-based Conning has invested 0.02% in Western Digital Corp (NASDAQ:WDC). First Pacific Advisors accumulated 1.89M shares or 0.91% of the stock. Bb&T holds 0.07% or 59,020 shares in its portfolio. Howe & Rusling has invested 0% of its portfolio in Western Digital Corp (NASDAQ:WDC). Bnp Paribas Arbitrage Sa accumulated 225,050 shares or 0.05% of the stock. Moreover, Ivory Inv Management Limited Liability Corporation has 3.07% invested in Western Digital Corp (NASDAQ:WDC) for 1.84 million shares. Rhumbline Advisers holds 0.07% of its portfolio in Western Digital Corp (NASDAQ:WDC) for 427,786 shares. Nexus Mngmt holds 2.6% of its portfolio in Western Digital Corp (NASDAQ:WDC) for 243,750 shares.
Insider Transactions: Since September 21, 2016, the stock had 0 buys, and 15 sales for $12.29 million net activity. 18,250 shares with value of $1.08 million were sold by CORDANO MICHAEL D on Monday, October 3. 100,000 Western Digital Corp (NASDAQ:WDC) shares with value of $6.81 million were sold by MEHROTRA SANJAY. MILLIGAN STEPHEN D sold 67 shares worth $4,355. $352,722 worth of Western Digital Corp (NASDAQ:WDC) was sold by RAY MICHAEL CHARLES on Monday, November 28. Shares for $264,943 were sold by DENERO HENRY T. The insider BHATIA MANISH H sold 23,898 shares worth $1.62 million. MASSENGILL MATTHEW E had sold 2,187 shares worth $125,348.
More notable recent Western Digital Corp (NASDAQ:WDC) news were published by: Businesswire.com which released: “Western Digital Corporation Commences Registered Exchange Offer for Its 10.500 …” on January 06, 2017, also Streetinsider.com with their article: “BMO Capital Upgrades Western Digital Corp. (WDC) to Outperform, $90 PT” published on January 05, 2017, Businesswire.com published: “Western Digital Sets January 25 for Q2 Fiscal 2017 Financial Results …” on January 09, 2017. More interesting news about Western Digital Corp (NASDAQ:WDC) were released by: Streetinsider.com and their article: “UPDATE: Goldman Sachs Upgrades Western Digital Corp. (WDC) to Neutral” published on December 20, 2016 as well as Finance.Yahoo.com‘s news article titled: “Is Western Digital (WDC) Stock a Solid Choice Right Now?” with publication date: January 06, 2017.
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.”
Western Digital Corp (NASDAQ:WDC) Ratings Coverage
Out of 29 analysts covering Western Digital (NASDAQ:WDC), 21 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 72% are positive. Western Digital has been the topic of 79 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, June 2 by Jefferies. The firm earned “Overweight” rating on Thursday, September 29 by Barclays Capital. BMO Capital Markets initiated the shares of WDC in a report on Friday, December 11 with “Market Perform” rating. Cowen & Co maintained it with “Outperform” rating and $58 target price in Wednesday, September 7 report. The rating was initiated by Citigroup on Wednesday, January 27 with “Buy”. Goldman Sachs upgraded Western Digital Corp (NASDAQ:WDC) on Tuesday, December 20 to “Neutral” rating. The firm has “Neutral” rating by Robert W. Baird given on Friday, April 29. JP Morgan reinitiated the shares of WDC in a report on Wednesday, June 15 with “Neutral” rating. Guggenheim initiated Western Digital Corp (NASDAQ:WDC) on Wednesday, January 4 with “Buy” rating. The rating was downgraded by Morgan Stanley on Thursday, July 23 to “Equal-Weight”.
WDC Company Profile
Western Digital Corporation (Western Digital), incorporated on October 26, 2000, is a developer, maker and well-known provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions). The Firm also generates license and royalty revenue related to its intellectual property which is included in each of the three categories.
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