Argentarii LLC Buys Shares of 7,795 Western Digital Co. (NASDAQ:WDC)

Argentarii LLC bought a new stake in Western Digital Co. (NASDAQ:WDC) during the fourth quarter, Holdings Channel.com reports. The fund bought 7,795 shares of the data storage provider’s stock, valued at approximately $465,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its holdings in shares of Western Digital by 278.9% during the 4th quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock worth $25,000 after purchasing an additional 304 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Western Digital by 2,184.2% during the 3rd quarter. True Wealth Design LLC now owns 434 shares of the data storage provider’s stock worth $30,000 after purchasing an additional 415 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Western Digital during the 4th quarter worth approximately $29,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Western Digital during the 4th quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Western Digital during the 3rd quarter worth approximately $41,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

Wall Street Analyst Weigh In

WDC has been the subject of a number of recent research reports. Rosenblatt Securities dropped their target price on Western Digital from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Robert W. Baird decreased their price objective on Western Digital from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. StockNews.com initiated coverage on Western Digital in a research note on Wednesday, February 26th. They issued a “buy” rating for the company. The Goldman Sachs Group boosted their target price on Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Mizuho cut their price target on Western Digital from $90.00 to $82.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Western Digital currently has an average rating of “Moderate Buy” and an average price target of $81.47.

Western Digital Stock Up 0.6 %

WDC opened at $41.70 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $61.65 and its 200 day simple moving average is $64.54. The stock has a market cap of $14.50 billion, a PE ratio of 9.93 and a beta of 1.42. Western Digital Co. has a 52 week low of $39.58 and a 52 week high of $61.16.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. As a group, research analysts expect that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

About Western Digital

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.