16,223 Shares in Western Digital Co. (NASDAQ:WDC) Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors acquired a new stake in shares of Western Digital Co. (NASDAQ:WDC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,223 shares of the data storage provider's stock, valued at approximately $1,108,000.

Several other large investors have also bought and sold shares of the stock. Park Avenue Securities LLC bought a new stake in shares of Western Digital during the 1st quarter worth $437,000. Sunbelt Securities Inc. bought a new stake in shares of Western Digital during the first quarter valued at about $36,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Western Digital by 8.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 822,281 shares of the data storage provider's stock worth $56,112,000 after purchasing an additional 64,980 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Western Digital by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 5,688 shares of the data storage provider's stock worth $388,000 after purchasing an additional 737 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Western Digital in the first quarter worth approximately $236,000. 92.51% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Summit Insights lowered Western Digital from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Wedbush reaffirmed an "outperform" rating and issued a $95.00 price target on shares of Western Digital in a research note on Friday. Rosenblatt Securities reissued a "buy" rating and set a $115.00 price objective on shares of Western Digital in a research report on Friday. StockNews.com upgraded Western Digital from a "sell" rating to a "hold" rating in a report on Saturday, July 6th. Finally, Citigroup reduced their price target on Western Digital from $95.00 to $85.00 and set a "buy" rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.09.

Insider Activity

In related news, EVP Robert Soderbery sold 12,154 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the transaction, the executive vice president now owns 128,413 shares of the company's stock, valued at approximately $7,331,098.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO David Goeckeler sold 75,000 shares of the firm's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $70.32, for a total value of $5,274,000.00. Following the sale, the chief executive officer now directly owns 896,630 shares in the company, valued at approximately $63,051,021.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert Soderbery sold 12,154 shares of the firm's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $57.09, for a total transaction of $693,871.86. Following the completion of the sale, the executive vice president now owns 128,413 shares in the company, valued at $7,331,098.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,955 shares of company stock worth $6,327,560 over the last 90 days. 0.30% of the stock is currently owned by company insiders.

Western Digital Stock Performance

Shares of NASDAQ WDC traded up $0.26 during midday trading on Monday, reaching $69.71. The company had a trading volume of 7,880,947 shares, compared to its average volume of 6,187,674. The stock has a market cap of $24.10 billion, a P/E ratio of 40.85 and a beta of 1.39. Western Digital Co. has a 1 year low of $38.43 and a 1 year high of $81.55. The business's 50-day simple moving average is $65.42 and its 200 day simple moving average is $69.67. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49.

Western Digital (NASDAQ:WDC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.23. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.12 billion. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The business's quarterly revenue was up 48.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.97) earnings per share. On average, analysts forecast that Western Digital Co. will post 7.16 earnings per share for the current fiscal year.

Western Digital Company 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.