Western Digital Corp Draws Bullish Options Activity Today

 Western Digital Corp Draws Bullish Options Activity Today

In today’s session Western Digital Corp (WDC) registered an unusually high (1,282) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious WDC increase. With 1,282 contracts traded and 63084 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: WDC161021C00055000 closed last at: $1.4 or 35.8% down. About 4.07M shares traded hands. Western Digital Corp (NASDAQ:WDC) has risen 13.80% since March 14, 2016 and is uptrending. It has outperformed by 8.19% the S&P500.

Analysts await Western Digital Corp (NASDAQ:WDC) to report earnings on October, 26. They expect $0.89 earnings per share, down 42.95% or $0.67 from last year’s $1.56 per share. WDC’s profit will be $251.67M for 15.04 P/E if the $0.89 EPS becomes a reality. After $0.79 actual earnings per share 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. Western Digital has been the topic of 69 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was maintained by Jefferies with “Buy” on Friday, May 27. The firm has “Buy” rating given on Monday, October 19 by Maxim Group. Citigroup maintained the stock with “Buy” rating in Friday, May 27 report. The firm earned “Buy” rating on Tuesday, September 13 by Longbow. On Friday, May 13 the stock rating was downgraded by Bank of America to “Underperform”. Sterne Agee CRT initiated Western Digital Corp (NASDAQ:WDC) on Tuesday, September 29 with “Buy” rating. As per Monday, January 11, the company rating was maintained by Deutsche Bank. Deutsche Bank maintained Western Digital Corp (NASDAQ:WDC) rating on Wednesday, October 21. Deutsche Bank has “Buy” rating and $100 price target. The firm has “Neutral” rating by Mizuho given on Friday, December 11. As per Wednesday, August 17, the company rating was maintained by Goldman Sachs.

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 2016 Q2. Its up 0.79, from 1.36 in 2016Q1. The ratio is positive, 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.
State Of Wisconsin Inv Board, a Wisconsin-based fund reported 453,076 shares. Moreover, Dynamic Advsr Solutions Ltd Co has 0.71% invested in Western Digital Corp (NASDAQ:WDC) for 37,031 shares. Jpmorgan Chase has 2.99 million shares for 0.04% of their US portfolio. Pnc Finance Serv Gp reported 59,698 shares or 0% of all its holdings. Invest Advsr last reported 0.77% of its portfolio in the stock. Banque Pictet & Cie Sa last reported 89,354 shares in the company. Moreover, Point72 Asia (Hong Kong) has 0.01% invested in Western Digital Corp (NASDAQ:WDC) for 180 shares. Glenmede Trust Na holds 238,225 shares or 0.07% of its portfolio. Invesco has 0.04% invested in the company for 2.41 million shares. Advantus Mgmt, a Minnesota-based fund reported 54,738 shares. Calamos Ltd holds 0.01% or 44,771 shares in its portfolio. Riggs Asset Managment Inc owns 47 shares or 0% of their US portfolio. Green Square holds 1.02% or 86,459 shares in its portfolio. The New Jersey-based Jacobs Levy Equity Management has invested 0.51% in Western Digital Corp (NASDAQ:WDC). Carroll Associates Inc holds 0% of its portfolio in Western Digital Corp (NASDAQ:WDC) for 124 shares.

Insider Transactions: Since May 31, 2016, the stock had 1 buy, and 4 sales for $977,048 net activity. 22,500 Western Digital Corp (NASDAQ:WDC) shares with value of $1.02M 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 7,185 shares valued at $391,583 was made by CORDANO MICHAEL D on Wednesday, September 21.

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 $15.14 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 44.97 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: Profitconfidential.com which released: “Western Digital Corp: WDC Stock Bulls Need to See This” on October 04, 2016. Also Forbes.com published the news titled: “Ex-Dividend Reminder: Western Digital, MercadoLibre and ATN International” on September 26, 2016. Investorplace.com‘s news article titled: “3 Big Stock Charts: Intel Corporation (INTC), Western Digital Corp (WDC) and …” with publication date: September 19, 2016 was also an interesting one.

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