Investors Buy Large Volume of Western Digital Corporation Call Options (WDC)
Western Digital Corporation (NASDAQ:WDC) saw unusually large options trading activity on Monday. Stock investors bought 6,330 call options on the stock. This represents an increase of 292% compared to the typical daily volume of 1,613 call options.
In other Western Digital Corporation news, insider Mark P. Long sold 28,585 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $94.24, for a total transaction of $2,693,850.40. Following the sale, the insider now directly owns 53,551 shares in the company, valued at approximately $5,046,646.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark P. Long sold 17,028 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $93.84, for a total transaction of $1,597,907.52. Following the sale, the chief financial officer now owns 53,551 shares in the company, valued at $5,025,225.84. The disclosure for this sale can be found here. Insiders have sold a total of 128,246 shares of company stock worth $11,323,928 over the last 90 days. Insiders own 0.31% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in WDC. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in Western Digital Corporation by 33.5% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 72,737 shares of the data storage provider’s stock valued at $6,069,000 after buying an additional 18,238 shares during the last quarter. KBC Group NV grew its holdings in Western Digital Corporation by 12.4% in the 1st quarter. KBC Group NV now owns 27,314 shares of the data storage provider’s stock valued at $2,254,000 after buying an additional 3,009 shares during the last quarter. Clinton Group Inc. grew its holdings in Western Digital Corporation by 167.7% in the 1st quarter. Clinton Group Inc. now owns 16,538 shares of the data storage provider’s stock valued at $1,365,000 after buying an additional 10,360 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Western Digital Corporation by 57.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,798,728 shares of the data storage provider’s stock valued at $148,450,000 after buying an additional 658,041 shares during the last quarter. Finally, Atlantic Trust Group LLC acquired a new stake in Western Digital Corporation in the 1st quarter valued at approximately $1,279,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.
Western Digital Corporation (NASDAQ WDC) opened at 84.35 on Thursday. Western Digital Corporation has a 12 month low of $52.10 and a 12 month high of $95.77. The firm has a market capitalization of $24.87 billion, a price-to-earnings ratio of 62.95 and a beta of 1.24. The firm has a 50 day moving average price of $87.22 and a 200-day moving average price of $87.08.
Western Digital Corporation (NASDAQ:WDC) last released its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.42. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The company’s revenue was up 38.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. On average, equities analysts forecast that Western Digital Corporation will post $12.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, September 28th. Western Digital Corporation’s dividend payout ratio (DPR) is currently 156.25%.
Several research analysts have recently issued reports on WDC shares. Vetr raised Western Digital Corporation from a “buy” rating to a “strong-buy” rating and set a $101.80 price target for the company in a research note on Monday, June 12th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Western Digital Corporation in a research note on Monday, June 12th. Aegis started coverage on Western Digital Corporation in a research note on Tuesday, June 13th. They set a “buy” rating and a $130.00 price target for the company. Guggenheim reaffirmed a “buy” rating and set a $125.00 price target on shares of Western Digital Corporation in a research note on Wednesday, June 14th. Finally, Evercore ISI started coverage on Western Digital Corporation in a research note on Friday, June 16th. They set an “outperform” rating and a $130.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $111.98.
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Western Digital Corporation Company Profile
Western Digital Corporation (Western Digital) is a developer, manufacturer and 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).
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