Arkadios Wealth Advisors Boosts Position in Western Digital Co. (NASDAQ:WDC)

Arkadios Wealth Advisors lifted its holdings in Western Digital Co. (NASDAQ:WDC) by 23.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 19,954 shares of the data storage provider’s stock after buying an additional 3,731 shares during the quarter. Arkadios Wealth Advisors’ holdings in Western Digital were worth $1,190,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Eastern Bank acquired a new position in Western Digital during the 3rd quarter worth approximately $27,000. Versant Capital Management Inc raised its stake in shares of Western Digital by 278.9% during the fourth quarter. Versant Capital Management Inc now owns 413 shares of the data storage provider’s stock valued at $25,000 after purchasing an additional 304 shares during the period. True Wealth Design LLC lifted its position in shares of Western Digital by 2,184.2% during the third 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. Capital Performance Advisors LLP acquired a new stake in Western Digital during the 3rd quarter valued at $41,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in Western Digital during the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In other news, SVP Gene M. Zamiska sold 658 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $69.99, for a total value of $46,053.42. Following the completion of the transaction, the senior vice president now directly owns 28,863 shares in the company, valued at $2,020,121.37. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Goeckeler sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $72.58, for a total value of $5,443,500.00. Following the sale, the chief executive officer now directly owns 821,630 shares in the company, valued at approximately $59,633,905.40. The trade was a 8.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,107 shares of company stock valued at $7,768,381 in the last three months. 0.30% of the stock is currently owned by corporate insiders.

Western Digital Stock Performance

WDC stock opened at $65.04 on Monday. Western Digital Co. has a 1 year low of $52.76 and a 1 year high of $81.55. The stock has a market capitalization of $22.48 billion, a price-to-earnings ratio of 38.26 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.47. The stock’s fifty day moving average is $65.43 and its two-hundred day moving average is $66.23.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings data on Thursday, October 24th. The data storage provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.23. Western Digital had a net margin of 4.81% and a return on equity of 8.57%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period last year, the firm posted ($1.97) EPS. Western Digital’s quarterly revenue was up 48.9% compared to the same quarter last year. On average, research analysts predict that Western Digital Co. will post 6.26 EPS for the current year.

Wall Street Analysts Forecast Growth

WDC has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of Western Digital from $81.00 to $70.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Mizuho lowered 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. Susquehanna increased their target price on Western Digital from $75.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Benchmark lowered shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a research note on Thursday, December 19th. Finally, Bank of America reduced their price objective on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Western Digital currently has an average rating of “Moderate Buy” and a consensus target price of $85.65.

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.