Traders See Bearish Options Activity Western Digital Corp

 Traders See Bearish Options Activity Western Digital Corp

In today’s session Western Digital Corp (WDC) recorded an unusually high (529) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious WDC decrease. With 529 contracts traded and 3024 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: WDC161216P00050000 closed last at: $1.17 or 0% . About 1.07 million shares traded hands. Western Digital Corp (NASDAQ:WDC) has risen 24.68% since April 5, 2016 and is uptrending. It has outperformed by 22.72% the S&P500.

Western Digital Corp (NASDAQ:WDC) Ratings Coverage

Out of 28 analysts covering Western Digital (NASDAQ:WDC), 19 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 68% are positive. $140 is the highest target while $39 is the lowest. The $70.52 average target is 22.56% above today’s ($57.54) stock price. Western Digital has been the topic of 73 analyst reports since July 23, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of WDC in a report on Friday, January 15 with “Outperform” rating. Mizuho maintained Western Digital Corp (NASDAQ:WDC) rating on Thursday, August 25. Mizuho has “Buy” rating and $54 price target. As per Thursday, July 30, the company rating was upgraded by Credit Agricole. Brean Capital maintained Western Digital Corp (NASDAQ:WDC) on Tuesday, March 15 with “Buy” rating. Mizuho maintained the shares of WDC in a report on Thursday, October 27 with “Buy” rating. The company was upgraded on Tuesday, September 13 by Longbow. Cowen & Co maintained Western Digital Corp (NASDAQ:WDC) rating on Wednesday, September 7. Cowen & Co has “Outperform” rating and $58 price target. Pacific Crest downgraded Western Digital Corp (NASDAQ:WDC) on Tuesday, April 19 to “Sector Weight” rating. The rating was initiated by Sterne Agee CRT on Tuesday, September 29 with “Buy”. On Monday, October 19 the stock rating was maintained by Maxim Group with “Buy”.

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 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.
Kennedy Capital Mgmt reported 137,886 shares or 0.13% of all its holdings. Bnp Paribas Prns Sa accumulated 0.01% or 26,875 shares. The Massachusetts-based Geode Cap Management Ltd Liability has invested 0.07% in Western Digital Corp (NASDAQ:WDC). Reinhart Prtnrs last reported 6,790 shares in the company. Cap One Natl Association holds 0.03% or 8,172 shares in its portfolio. Liberty Mutual Grp Asset Mgmt owns 19,883 shares or 0.03% of their US portfolio. First Manhattan has invested 0% of its portfolio in Western Digital Corp (NASDAQ:WDC). The Florida-based Texas Yale has invested 0.04% in Western Digital Corp (NASDAQ:WDC). Regentatlantic Cap Limited Liability owns 46,553 shares or 0.21% of their US portfolio. Hudock Cap Grp Ltd Liability Corp holds 196 shares or 0% of its portfolio. Artemis Llp, a United Kingdom-based fund reported 1.36M shares. Moreover, Raymond James Service Advsrs Incorporated has 0.01% invested in Western Digital Corp (NASDAQ:WDC) for 13,012 shares. Moreover, Gardner Lewis Asset Management Limited Partnership has 0.15% invested in Western Digital Corp (NASDAQ:WDC) for 31,149 shares. Coastline Trust holds 9,750 shares or 0.09% of its portfolio. Dynamic Capital Mgmt Ltd accumulated 0.07% or 11,994 shares.

Insider Transactions: Since May 31, 2016, the stock had 1 insider purchase, and 4 selling transactions for $977,048 net activity. CORDANO MICHAEL D sold 18,250 shares worth $1.08 million. On Monday, October 3 RAY MICHAEL CHARLES sold $370,980 worth of the stock or 6,183 shares. Another trade for 22,500 shares valued at $1.02 million was bought by MILLIGAN STEPHEN 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 $17.19 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 currently has negative earnings.

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 notable recent Western Digital Corp (NASDAQ:WDC) news were published by: Profitconfidential.com which released: “Western Digital Corp: This Is Why WDC Stock Will Continue to Climb” on October 28, 2016, also Businesswire.com with their article: “Western Digital Board Declares Dividend for Second Fiscal Quarter 2017” published on November 04, 2016, Fool.com published: “How Western Digital Corp. Rose 25% in September” on October 12, 2016. More interesting news about Western Digital Corp (NASDAQ:WDC) were released by: Investorplace.com and their article: “3 Big Stock Charts: ConocoPhillips (COP), Western Digital Corp (WDC) and …” published on October 31, 2016 as well as Nasdaq.com‘s news article titled: “Earnings Reaction History: Western Digital Corp., 62.5% Follow-Through …” with publication date: October 26, 2016.

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