Can Western Digital Corp’s Tomorrow Be Different? Option Trader Are Very Bullish

 Can Western Digital Corp's Tomorrow Be Different? Option Trader Are Very Bullish

In today’s session Western Digital Corp (WDC) registered an unusually high (1,874) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious WDC increase. With 1,874 contracts traded and 126254 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: WDC161216C00065000 closed last at: $0.67 or 21.2% down. About 681,550 shares traded hands. Western Digital Corp (NASDAQ:WDC) has risen 43.31% since April 18, 2016 and is uptrending. It has outperformed by 38.88% 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. Western Digital has been the topic of 73 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of Western Digital Corp (NASDAQ:WDC) has “Neutral” rating given on Monday, June 6 by Goldman Sachs. Robert W. Baird downgraded the shares of WDC in a report on Friday, April 29 to “Neutral” rating. The stock of Western Digital Corp (NASDAQ:WDC) earned “Buy” rating by Jefferies on Friday, May 27. The company was maintained on Thursday, August 25 by Mizuho. As per Wednesday, September 7, the company rating was maintained by Cowen & Co. RBC Capital Markets maintained it with “Outperform” rating and $94 target price in Thursday, July 30 report. The firm has “Underperform” rating by Bank of America given on Friday, May 13. The rating was upgraded by Maxim Group to “Buy” on Tuesday, June 7. As per Thursday, October 29, the company rating was maintained by Stifel Nicolaus. The firm has “Buy” rating given on Thursday, July 30 by Maxim Group.

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 decreased to 1.13 in 2016 Q2. Its down 1.02, from 2.15 in 2016Q1. The ratio worsened, 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.
Creative Planning has 0.01% invested in the company for 39,078 shares. Natixis holds 18,409 shares or 0.02% of its portfolio. Bkd Wealth Advsrs Limited Liability holds 24,382 shares or 0.17% of its portfolio. Agf Invs America accumulated 0.36% or 16,935 shares. Oppenheimer And last reported 86,224 shares in the company. Utah Retirement Systems owns 51,526 shares or 0.06% of their US portfolio. Los Angeles And Equity has invested 0.05% of its portfolio in Western Digital Corp (NASDAQ:WDC). Gam Ag last reported 370,448 shares in the company. Bb&T, a North Carolina-based fund reported 109,247 shares. Sumitomo Mitsui Trust owns 782,424 shares or 0.06% of their US portfolio. Korea Inv owns 164,541 shares or 0.05% of their US portfolio. The California-based Wells Fargo And Mn has invested 0.05% in Western Digital Corp (NASDAQ:WDC). Blb&B Advsrs Ltd Liability Co accumulated 51,315 shares or 0.46% of the stock. Thompson Davis And reported 652 shares or 0.05% of all its holdings. Victory Mgmt Incorporated owns 92,241 shares or 0.02% of their US portfolio.

Insider Transactions: Since May 31, 2016, the stock had 1 insider buy, and 8 selling transactions for $1.31 million net activity. The insider CORDANO MICHAEL D sold 889 shares worth $50,148. On Monday, October 3 the insider RAY MICHAEL CHARLES sold $370,980. On Monday, November 7 the insider MASSENGILL MATTHEW E sold $125,348. DENERO HENRY T sold $100,499 worth of stock. On Tuesday, May 31 MILLIGAN STEPHEN D bought $1.02 million worth of the stock or 22,500 shares.

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 $16.79 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 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 Nasdaq.com published the news titled: “Earnings Reaction History: Western Digital Corp., 62.5% Follow-Through …” on October 26, 2016. Investorplace.com‘s news article titled: “3 Big Stock Charts: ConocoPhillips (COP), Western Digital Corp (WDC) and …” with publication date: October 31, 2016 was also an interesting one.

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