Traders Buy Large Volume of Western Digital Corp Call Options (WDC)
Western Digital Corp (NASDAQ:WDC) was the target of some unusual options trading activity on Wednesday. Stock investors bought 6,330 call options on the company. This is an increase of approximately 292% compared to the average volume of 1,613 call options.
A number of equities analysts have recently issued reports on WDC shares. Vetr cut shares of Western Digital Corp from a “strong-buy” rating to a “buy” rating and set a $95.94 price objective on the stock. in a research report on Tuesday, August 22nd. Mizuho reissued a “buy” rating and set a $105.00 price objective on shares of Western Digital Corp in a research report on Sunday, October 8th. Maxim Group reissued a “buy” rating and set a $108.00 price objective on shares of Western Digital Corp in a research report on Wednesday, August 30th. Zacks Investment Research raised shares of Western Digital Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, ValuEngine cut shares of Western Digital Corp from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Nine equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and three have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $113.95.
In other Western Digital Corp news, Director Kathleen A. Cote sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $90.63, for a total transaction of $181,260.00. Following the sale, the director now owns 16,421 shares of the company’s stock, valued at $1,488,235.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henry T. Denero sold 4,097 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $85.97, for a total transaction of $352,219.09. Following the sale, the director now directly owns 10,834 shares in the company, valued at approximately $931,398.98. The disclosure for this sale can be found here. Insiders have sold 46,879 shares of company stock worth $3,976,090 in the last ninety days. Insiders own 0.31% of the company’s stock.
A number of large investors have recently modified their holdings of WDC. Buckingham Capital Management Inc. purchased a new position in shares of Western Digital Corp in the second quarter valued at about $1,754,000. Korea Investment CORP increased its position in shares of Western Digital Corp by 14.7% in the second quarter. Korea Investment CORP now owns 595,049 shares of the data storage provider’s stock valued at $52,721,000 after acquiring an additional 76,459 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Western Digital Corp by 18.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 67,329 shares of the data storage provider’s stock valued at $5,965,000 after acquiring an additional 10,428 shares during the period. Capital Analysts LLC purchased a new position in shares of Western Digital Corp in the second quarter valued at about $2,777,000. Finally, Calamos Advisors LLC increased its position in shares of Western Digital Corp by 2.7% in the second quarter. Calamos Advisors LLC now owns 45,377 shares of the data storage provider’s stock valued at $4,020,000 after acquiring an additional 1,201 shares during the period. Institutional investors own 82.72% of the company’s stock.
Shares of Western Digital Corp (NASDAQ WDC) opened at $87.01 on Friday. Western Digital Corp has a fifty-two week low of $54.26 and a fifty-two week high of $95.77. The stock has a market cap of $25.68 billion, a price-to-earnings ratio of 8.90 and a beta of 1.17. The company has a current ratio of 2.64, a quick ratio of 2.13 and a debt-to-equity ratio of 1.07.
Western Digital Corp (NASDAQ:WDC) last posted its quarterly earnings data on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $0.55. Western Digital Corp had a net margin of 7.38% and a return on equity of 26.48%. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the previous year, the firm posted $1.18 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. research analysts predict that Western Digital Corp will post 11.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, December 28th. Western Digital Corp’s payout ratio is presently 41.67%.
Western Digital Corp 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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