Assetmark Inc. Acquires 3,985 Shares of Western Digital Co. (NASDAQ:WDC)

Assetmark Inc. grew its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 6.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 70,768 shares of the data storage provider’s stock after acquiring an additional 3,985 shares during the period. Assetmark Inc.’s holdings in Western Digital were worth $4,220,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Versant Capital Management Inc raised its stake 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 buying an additional 304 shares during the last quarter. Sierra Ocean LLC bought a new position in Western Digital during the fourth quarter worth $29,000. True Wealth Design LLC raised its stake in 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 buying an additional 415 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Western Digital during the fourth quarter worth $30,000. Finally, Capital Performance Advisors LLP bought a new position in Western Digital during the third quarter worth $41,000. Institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays lowered their target price on shares of Western Digital from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Benchmark downgraded shares of Western Digital from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research note on Thursday, December 19th. Bank of America decreased their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup lifted their price target on shares of Western Digital from $60.45 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their price target on shares of Western Digital from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Six research 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.47.

Western Digital Stock Up 0.6 %

Shares of NASDAQ WDC opened at $41.70 on Friday. The stock has a market capitalization of $14.50 billion, a P/E ratio of 9.93 and a beta of 1.42. The company has a 50-day moving average price of $61.65 and a 200-day moving average price of $64.54. Western Digital Co. has a 1 year low of $39.58 and a 1 year high of $61.16. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.99 and a quick ratio of 1.26.

Western Digital (NASDAQ:WDC) last released its quarterly earnings results on Wednesday, January 29th. The data storage provider reported $1.55 earnings per share 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%. On average, equities research analysts forecast that Western Digital Co. will post 4.89 EPS 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.