Stock Traders Purchase Large Volume of Western Digital Corp Put Options (WDC)
Western Digital Corp (NYSE:WDC) was the target of some unusual options trading activity on Tuesday. Stock investors purchased 8,215 put options on the company, StockRatingsNetwork.com reports. This is an increase of 515% compared to the average volume of 1,336 put options.
In other Western Digital Corp news, Director Michael D. Lambert sold 14,352 shares of the stock on the open market in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $100.37, for a total value of $1,440,510.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on WDC. Analysts at Zacks reiterated a “neutral” rating on shares of Western Digital Corp in a research note on Friday. They now have a $107.00 price target on the stock. Separately, analysts at Susquehanna raised their price target on shares of Western Digital Corp from $130.00 to $133.00 in a research note on Tuesday, August 5th. They now have a “positive” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Western Digital Corp in a research note on Thursday, July 31st. They now have a $116.00 price target on the stock, up previously from $100.00. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $110.79.
Western Digital Corp (NYSE:WDC) traded down 0.98% on Tuesday, hitting $102.00. 1,428,597 shares of the company’s stock traded hands. Western Digital Corp has a 1-year low of $62.00 and a 1-year high of $103.51. The stock’s 50-day moving average is $100.5 and its 200-day moving average is $91.66. The company has a market cap of $23.869 billion and a P/E ratio of 15.42.
Western Digital Corp (NYSE:WDC) last announced its earnings results on Wednesday, July 30th. The company reported $1.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.72 by $0.13. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts expect that Western Digital Corp will post $8.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Wednesday, October 1st.
Western Digital Corporation (NYSE:WDC) is a developer and manufacturer of storage solutions, which enables people to create, manage, experience and preserve digital content.
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