Western Digital Corporation (NASDAQ:WDC) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 6,330 call options on the stock. This represents an increase of 292% compared to the typical volume of 1,613 call options.

Several equities research analysts have issued reports on the stock. Vetr downgraded shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $98.49 price objective for the company. in a research report on Monday, October 30th. UBS AG raised their price objective on shares of Western Digital Corporation from $93.00 to $97.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. KeyCorp restated a “hold” rating on shares of Western Digital Corporation in a research report on Friday, October 27th. Jefferies Group LLC restated a “hold” rating and set a $90.00 price objective on shares of Western Digital Corporation in a research report on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of Western Digital Corporation from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective for the company in a research report on Wednesday, November 1st. Nine research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $113.95.

Western Digital Corporation (NASDAQ WDC) opened at $87.01 on Monday. The stock has a market cap of $25,683.44, a price-to-earnings ratio of 8.74 and a beta of 1.17. The company has a quick ratio of 2.13, a current ratio of 2.64 and a debt-to-equity ratio of 1.07. Western Digital Corporation has a fifty-two week low of $54.26 and a fifty-two week high of $95.77.

Western Digital Corporation (NASDAQ:WDC) last released its earnings results on Thursday, October 26th. The data storage provider reported $3.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.55. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.13 billion. Western Digital Corporation had a net margin of 7.38% and a return on equity of 26.48%. Western Digital Corporation’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. equities analysts expect that Western Digital Corporation will post 11.93 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.50 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.00 annualized dividend and a yield of 2.30%. Western Digital Corporation’s payout ratio is 41.75%.

In related news, CFO Mark P. Long sold 1,517 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $80.97, for a total value of $122,831.49. Following the completion of the sale, the chief financial officer now directly owns 88,207 shares in the company, valued at approximately $7,142,120.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Srinivasan Sivaram sold 3,098 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $85.00, for a total transaction of $263,330.00. Following the completion of the sale, the executive vice president now owns 74,741 shares of the company’s stock, valued at $6,352,985. The disclosure for this sale can be found here. Insiders sold a total of 46,879 shares of company stock valued at $3,976,090 over the last quarter. 0.31% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Accredited Investors Inc. lifted its holdings in Western Digital Corporation by 0.4% in the second quarter. Accredited Investors Inc. now owns 2,713 shares of the data storage provider’s stock valued at $240,000 after buying an additional 11 shares during the period. Cookson Peirce & Co. Inc. increased its stake in Western Digital Corporation by 0.6% in the second quarter. Cookson Peirce & Co. Inc. now owns 3,600 shares of the data storage provider’s stock valued at $319,000 after purchasing an additional 20 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its stake in Western Digital Corporation by 0.5% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 4,571 shares of the data storage provider’s stock valued at $405,000 after purchasing an additional 25 shares in the last quarter. Barry Investment Advisors LLC increased its stake in Western Digital Corporation by 0.4% in the second quarter. Barry Investment Advisors LLC now owns 6,331 shares of the data storage provider’s stock valued at $561,000 after purchasing an additional 26 shares in the last quarter. Finally, People s United Financial Inc. increased its stake in Western Digital Corporation by 0.3% in the second quarter. People s United Financial Inc. now owns 12,689 shares of the data storage provider’s stock valued at $1,124,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 82.72% of the company’s stock.

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About Western Digital Corporation

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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