Western Digital Corp Just Recorded A Sigfniciant Bullish Options Activity

 Western Digital Corp Just Recorded A Sigfniciant Bullish Options Activity

In today’s session Western Digital Corp (WDC) registered an unusually high (128) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious WDC increase. With 128 contracts traded and 13724 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: WDC170120C00052500 closed last at: $8.75 or 3.6% up. About 1.84M shares traded hands. Western Digital Corp (NASDAQ:WDC) has risen 23.95% since March 2, 2016 and is uptrending. It has outperformed by 15.69% the S&P500.

Analysts await Western Digital Corp (NASDAQ:WDC) to report earnings on October, 26. They expect $0.89 EPS, down 42.95% or $0.67 from last year’s $1.56 per share. WDC’s profit will be $252.91 million for 16.63 P/E if the $0.89 EPS becomes a reality. After $0.79 actual EPS reported by Western Digital Corp for the previous quarter, Wall Street now forecasts 12.66% EPS growth.

Western Digital Corp (NASDAQ:WDC) Ratings Coverage

Out of 28 analysts covering Western Digital (NASDAQ:WDC), 19 rate it a “Buy”, 3 “Sell”, while 6 “Hold”. This means 68% are positive. $140 is the highest target while $39 is the lowest. The $72.22 average target is 22.01% above today’s ($59.19) stock price. Western Digital has been the topic of 68 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Wells Fargo initiated the stock with “Outperform” rating in Thursday, August 27 report. The firm has “Buy” rating by Benchmark given on Thursday, July 30. As per Thursday, August 25, the company rating was maintained by Mizuho. The stock of Western Digital Corp (NASDAQ:WDC) has “Neutral” rating given on Friday, December 11 by Mizuho. Jefferies maintained it with “Buy” rating and $54 target price in Friday, May 27 report. The firm earned “Neutral” rating on Monday, June 6 by Goldman Sachs. The rating was maintained by Brean Capital with “Buy” on Thursday, April 28. Maxim Group maintained Western Digital Corp (NASDAQ:WDC) rating on Thursday, July 30. Maxim Group has “Buy” rating and $114 price target. Credit Agricole upgraded the shares of WDC in a report on Thursday, July 30 to “Outperform” rating. The stock has “Buy” rating given by Mizuho on Thursday, September 8.

According to Zacks Investment Research, “Western Digital Corp. designs, develops, manufactures and markets a broad line of hard drives featuring leading-edge technology. The company’s hard drives are designed for the desktop PC market and the high-end hard drive market and, recently, for the emerging market for hard drives specially designed for audio-visual applications, such as new video recording devices. The company sells its products worldwide to computer manufacturers for inclusion in their computer systems or subsystems and to distributors, resellers and retailers.”

Insitutional Activity: The institutional sentiment increased to 2.15 in Q2 2016. Its up 0.79, from 1.36 in 2016Q1. The ratio increased, as 54 funds sold all Western Digital Corp shares owned while 132 reduced positions. 120 funds bought stakes while 280 increased positions. They now own 241.54 million shares or 6.73% more from 226.31 million shares in 2016Q1.
Valley National Advisers, a Pennsylvania-based fund reported 12 shares. American Insur Tx reported 8,711 shares or 0.02% of all its holdings. Teacher Retirement System Of Texas has 0.06% invested in the company for 191,427 shares. Rafferty Asset Mngmt Ltd accumulated 0.04% or 12,616 shares. Mcf Advsr Limited Liability holds 0% of its portfolio in Western Digital Corp (NASDAQ:WDC) for 15 shares. Koshinski Asset Mngmt has 0% invested in the company for 6,167 shares. Ubs Asset Americas Incorporated holds 0.09% of its portfolio in Western Digital Corp (NASDAQ:WDC) for 1.75M shares. Gemmer Asset Mgmt Ltd last reported 0.02% of its portfolio in the stock. The New York-based Fred Alger Mgmt Inc has invested 0.2% in Western Digital Corp (NASDAQ:WDC). Wells Fargo & Mn holds 0.05% or 2.50 million shares in its portfolio. The Sweden-based Livforsakringsbolaget Skandia Omsesidigt has invested 0.11% in Western Digital Corp (NASDAQ:WDC). The Connecticut-based Conning has invested 0.02% in Western Digital Corp (NASDAQ:WDC). Vantage Inv Advisors last reported 0% of its portfolio in the stock. The Japan-based Dai Ichi Life Ins Limited has invested 0.01% in Western Digital Corp (NASDAQ:WDC). Denver Invest Ltd Liability Com, a Colorado-based fund reported 22,405 shares.

Insider Transactions: Since May 31, 2016, the stock had 1 buy, and 4 sales for $977,048 net activity. Shares for $1.02 million were bought by MILLIGAN STEPHEN D. 6,183 shares were sold by RAY MICHAEL CHARLES, worth $370,980 on Monday, October 3. Another trade for 18,250 shares valued at $1.08 million was sold by CORDANO MICHAEL D.

Western Digital Corporation is a developer, maker and well-known provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The company has a market cap of $16.82 billion. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions). It has a 49.71 P/E ratio.

WDC Company Profile

Western Digital Corporation (Western Digital), incorporated on October 26, 2000, is a developer, maker and well-known provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions). The Firm also generates license and royalty revenue related to its intellectual property which is included in each of the three categories.

More recent Western Digital Corp (NASDAQ:WDC) news were published by: Businesswire.com which released: “Western Digital Sets October 26 for Q1 Fiscal 2017 Financial Results …” on September 30, 2016. Also Fool.com published the news titled: “Why Western Digital Corp. Soared Today” on September 07, 2016. Forbes.com‘s news article titled: “Ex-Dividend Reminder: Western Digital, MercadoLibre and ATN International” with publication date: September 26, 2016 was also an interesting one.

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