Argentarii LLC Invests $465,000 in Western Digital Co. (NASDAQ:WDC)

Argentarii LLC acquired a new position in shares of Western Digital Co. (NASDAQ:WDC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,795 shares of the data storage provider's stock, valued at approximately $465,000.

Several other hedge funds also recently made changes to their positions in WDC. Versant Capital Management Inc boosted its holdings in Western Digital by 278.9% during the fourth 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 during the last quarter. Sierra Ocean LLC bought a new stake in Western Digital during the 4th quarter worth about $29,000. True Wealth Design LLC boosted its stake 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 buying an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in shares of Western Digital in the 4th quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Western Digital in the fourth quarter valued at about $36,000. 92.51% of the stock is owned by institutional investors.

Western Digital Price Performance

Shares of NASDAQ WDC traded down $0.93 during trading hours on Thursday, hitting $42.03. 5,494,874 shares of the stock were exchanged, compared to its average volume of 9,232,894. The company's fifty day simple moving average is $60.58 and its two-hundred day simple moving average is $64.06. The company has a market cap of $14.62 billion, a PE ratio of 10.01 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99. Western Digital Co. has a 1-year low of $39.42 and a 1-year high of $61.16.

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Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.36). Western Digital had a net margin of 9.95% and a return on equity of 15.68%. On average, sell-side analysts predict that Western Digital Co. will post 4.89 EPS for the current year.

Insider Activity

In other news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total transaction of $68,616.24. Following the sale, the senior vice president now directly owns 43,776 shares of the company's stock, valued at approximately $1,810,575.36. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WDC shares. Barclays decreased their price target on Western Digital from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald decreased their target price on shares of Western Digital from $95.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Susquehanna dropped their price target on shares of Western Digital from $83.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. UBS Group upped their target price on shares of Western Digital from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Citigroup boosted their price target on Western Digital from $60.45 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Western Digital currently has a consensus rating of "Moderate Buy" and an average target price of $81.47.

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.