Argentarii LLC Purchases New Shares in Western Digital Co. (NASDAQ:WDC)

Argentarii LLC purchased a new stake in Western Digital Co. (NASDAQ:WDC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 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 modified their holdings of the stock. OFI Invest Asset Management acquired a new position in shares of Western Digital in the 4th quarter valued at $36,000. Amundi boosted its position in shares of Western Digital by 0.8% in the 4th quarter. Amundi now owns 1,595,268 shares of the data storage provider’s stock valued at $102,193,000 after purchasing an additional 12,281 shares during the period. AMF Tjanstepension AB acquired a new position in shares of Western Digital in the 4th quarter valued at $94,181,000. PNC Financial Services Group Inc. lifted its stake in Western Digital by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 31,186 shares of the data storage provider’s stock worth $1,860,000 after acquiring an additional 635 shares in the last quarter. Finally, BBR Partners LLC lifted its stake in Western Digital by 50.0% in the 4th quarter. BBR Partners LLC now owns 15,000 shares of the data storage provider’s stock worth $894,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Analyst Upgrades and Downgrades

WDC has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on Western Digital from $70.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Robert W. Baird reduced 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. Benchmark downgraded Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research note on Thursday, December 19th. UBS Group increased their price objective on Western Digital from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Mizuho reduced their price objective on Western Digital from $90.00 to $82.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.47.

Western Digital Stock Performance

Shares of NASDAQ WDC opened at $41.70 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. The firm has a market cap of $14.50 billion, a price-to-earnings ratio of 9.93 and a beta of 1.42. The business’s 50-day simple moving average is $61.65 and its 200-day simple moving average is $64.54. 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 analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. As a group, equities research analysts expect that Western Digital Co. will post 4.89 earnings per share for the current fiscal year.

Western Digital Profile

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.