Equitec Proprietary Markets Has Lowered Western Digital (WDC) Stake by $9.37 Million; Stock Price Rose; Avnet (AVT) Shareholder Hawk Ridge Management Lowered Position by $1.20 Million as Market Valuation Declined

January 17, 2018 - By Marie Mckinney

Equitec Proprietary Markets Llc decreased its stake in Western Digital Corp (WDC) by 99.87% based on its latest 2017Q3 regulatory filing with the SEC. Equitec Proprietary Markets Llc sold 105,266 shares as the company’s stock rose 15.69% with the market. The institutional investor held 134 shares of the electronic components company at the end of 2017Q3, valued at $12,000, down from 105,400 at the end of the previous reported quarter. Equitec Proprietary Markets Llc who had been investing in Western Digital Corp for a number of months, seems to be less bullish one the $25.04 billion market cap company. The stock increased 0.93% or $0.7797 during the last trading session, reaching $84.6597. About 553,764 shares traded. Western Digital Corporation (NASDAQ:WDC) has risen 125.85% since January 17, 2017 and is uptrending. It has outperformed by 109.15% the S&P500.

Hawk Ridge Management Llc decreased its stake in Avnet Inc (AVT) by 14.46% based on its latest 2017Q3 regulatory filing with the SEC. Hawk Ridge Management Llc sold 30,800 shares as the company’s stock declined 20.08% while stock markets rallied. The institutional investor held 182,200 shares of the consumer non-durables company at the end of 2017Q3, valued at $7.16 million, down from 213,000 at the end of the previous reported quarter. Hawk Ridge Management Llc who had been investing in Avnet Inc for a number of months, seems to be less bullish one the $5.03B market cap company. The stock increased 0.36% or $0.15 during the last trading session, reaching $41.56. About 31,722 shares traded. Avnet, Inc. (NYSE:AVT) has declined 4.87% since January 17, 2017 and is downtrending. It has underperformed by 21.57% the S&P500.

Analysts await Avnet, Inc. (NYSE:AVT) to report earnings on January, 25. They expect $0.72 EPS, down 6.49% or $0.05 from last year’s $0.77 per share. AVT’s profit will be $87.07M for 14.43 P/E if the $0.72 EPS becomes a reality. After $0.76 actual EPS reported by Avnet, Inc. for the previous quarter, Wall Street now forecasts -5.26% negative EPS growth.

Hawk Ridge Management Llc, which manages about $266.13M US Long portfolio, upped its stake in Michaels Cos Inc (NASDAQ:MIK) by 116,300 shares to 350,300 shares, valued at $7.52M in 2017Q3, according to the filing. It also increased its holding in Etsy Inc by 45,100 shares in the quarter, for a total of 771,753 shares, and has risen its stake in Ensign Group Inc (NASDAQ:ENSG).

Since August 17, 2017, it had 0 insider buys, and 1 insider sale for $393,260 activity.

Among 10 analysts covering Avnet Inc. (NYSE:AVT), 0 have Buy rating, 2 Sell and 8 Hold. Therefore 0 are positive. Avnet Inc. had 29 analyst reports since August 6, 2015 according to SRatingsIntel. The stock has “Hold” rating by SunTrust on Thursday, October 26. The stock of Avnet, Inc. (NYSE:AVT) earned “Hold” rating by Stifel Nicolaus on Wednesday, August 9. The firm has “Hold” rating by Brean Capital given on Friday, April 29. The rating was downgraded by Cross Research on Tuesday, September 20 to “Sell”. SunTrust maintained it with “Hold” rating and $39.0 target in Wednesday, October 11 report. The rating was maintained by Stifel Nicolaus with “Hold” on Sunday, October 15. The stock of Avnet, Inc. (NYSE:AVT) earned “Buy” rating by Longbow on Friday, October 21. The rating was downgraded by Stifel Nicolaus to “Hold” on Tuesday, September 20. As per Thursday, August 11, the company rating was maintained by Citigroup. Cross Research upgraded the shares of AVT in report on Friday, October 27 to “Hold” rating.

Investors sentiment increased to 0.99 in Q3 2017. Its up 0.15, from 0.84 in 2017Q2. It is positive, as 31 investors sold AVT shares while 107 reduced holdings. 45 funds opened positions while 91 raised stakes. 112.60 million shares or 3.41% less from 116.57 million shares in 2017Q2 were reported. Eaton Vance Mngmt invested 0.04% in Avnet, Inc. (NYSE:AVT). Boston Prtnrs has 0.01% invested in Avnet, Inc. (NYSE:AVT). Ing Groep Nv accumulated 0.01% or 15,072 shares. First Quadrant LP Ca reported 0.03% stake. Citigroup Inc invested in 0.02% or 495,176 shares. Ngam Ltd Partnership invested 0.05% in Avnet, Inc. (NYSE:AVT). Moreover, Morgan Stanley has 0.02% invested in Avnet, Inc. (NYSE:AVT). Marcato Cap Management Ltd Partnership holds 2.15% or 480,115 shares. Bankshares Of Montreal Can, a Ontario – Canada-based fund reported 846,233 shares. James Research stated it has 0.13% of its portfolio in Avnet, Inc. (NYSE:AVT). 19,923 were reported by Dnb Asset Mngmt As. Rbf Capital Limited Company reported 15,000 shares stake. Janney Montgomery Scott Ltd Liability Corp reported 10,005 shares. Cna Fin Corporation holds 0.87% in Avnet, Inc. (NYSE:AVT) or 87,706 shares. Speece Thorson Group has invested 1.88% in Avnet, Inc. (NYSE:AVT).

Equitec Proprietary Markets Llc, which manages about $425.27 million US Long portfolio, upped its stake in Monsanto Co New (NYSE:MON) by 6,050 shares to 65,050 shares, valued at $7.79 million in 2017Q3, according to the filing. It also increased its holding in Time Warner Inc (NYSE:TWX) by 7,400 shares in the quarter, for a total of 35,900 shares, and has risen its stake in Monsanto Co New (Call) (NYSE:MON).

Investors sentiment is 1.12 in Q3 2017. Its the same as in 2017Q2. It is the same, as 65 investors sold WDC shares while 212 reduced holdings. only 69 funds opened positions while 240 raised stakes. 240.32 million shares or 2.88% more from 233.59 million shares in 2017Q2 were reported. Ls Inv Ltd Liability Com stated it has 10,879 shares. Amundi Pioneer Asset invested in 0.08% or 293,897 shares. Fifth Third Financial Bank, Ohio-based fund reported 6,282 shares. Dimensional Fund Advsr LP holds 0.12% or 3.09 million shares in its portfolio. Vigilant Capital Mgmt Limited Liability Corporation has 167 shares for 0% of their portfolio. Alexandria Cap Ltd owns 8 shares. Northeast Consultants accumulated 0.19% or 5,884 shares. Art Advsrs Ltd has invested 0.27% in Western Digital Corporation (NASDAQ:WDC). Moreover, Ledyard Savings Bank has 0.03% invested in Western Digital Corporation (NASDAQ:WDC). Goldman Sachs Grp reported 4.08M shares. California-based Assetmark Inc has invested 0% in Western Digital Corporation (NASDAQ:WDC). Wesbanco State Bank Incorporated holds 0.07% of its portfolio in Western Digital Corporation (NASDAQ:WDC) for 16,584 shares. Rhumbline Advisers invested in 0.1% or 517,504 shares. Bkd Wealth Advisors Limited Liability Company owns 25,462 shares for 0.24% of their portfolio. Avalon Ltd Com accumulated 153,089 shares.

Analysts await Western Digital Corporation (NASDAQ:WDC) to report earnings on January, 24. They expect $3.44 earnings per share, up 73.74% or $1.46 from last year’s $1.98 per share. WDC’s profit will be $1.02B for 6.15 P/E if the $3.44 EPS becomes a reality. After $3.28 actual earnings per share reported by Western Digital Corporation for the previous quarter, Wall Street now forecasts 4.88% EPS growth.

Since August 3, 2017, it had 0 buys, and 10 sales for $6.56 million activity. $1.21 million worth of stock was sold by DeMaria Jacqueline on Thursday, August 3. Shares for $302,975 were sold by CORDANO MICHAEL D on Monday, August 14. The insider Sivaram Srinivasan sold 3,098 shares worth $263,330. 20,130 Western Digital Corporation (NASDAQ:WDC) shares with value of $1.66 million were sold by BHATIA MANISH H.

Among 35 analysts covering Western Digital (NASDAQ:WDC), 24 have Buy rating, 1 Sell and 10 Hold. Therefore 69% are positive. Western Digital had 149 analyst reports since July 23, 2015 according to SRatingsIntel. Maxim Group maintained Western Digital Corporation (NASDAQ:WDC) on Wednesday, October 12 with “Buy” rating. The firm earned “Buy” rating on Thursday, June 2 by Jefferies. The rating was maintained by Susquehanna on Monday, August 24 with “Positive”. Benchmark maintained Western Digital Corporation (NASDAQ:WDC) rating on Friday, October 27. Benchmark has “Buy” rating and $130.0 target. The company was maintained on Wednesday, December 7 by Cowen & Co. Citigroup maintained the shares of WDC in report on Friday, May 27 with “Buy” rating. As per Friday, May 27, the company rating was maintained by Jefferies. The rating was maintained by RBC Capital Markets on Friday, January 15 with “Outperform”. The firm earned “Equal-Weight” rating on Wednesday, December 13 by Morgan Stanley. The firm has “Buy” rating by Maxim Group given on Tuesday, June 27.

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