On September 19, 2023, a scan of options activity conducted by an independent market analysis firm revealed some intriguing findings regarding Western Digital (WDC). Notably, the sentiment among high-value traders was divided, with 80% expressing a bullish outlook and the remaining 20% leaning towards a bearish stance.
Among the various options discovered, 2 were puts, amounting to a total value of $55,660, while 8 were calls, valued at $360,599. Considering the substantial volume and open interest associated with these contracts, it became evident that influential investors, colloquially referred to as “whales,” had set their sights on a price range spanning from $40.0 to $50.0 for Western Digital over the preceding three months.
However, the most significant option identified was a call trade characterized by a bullish sentiment. This particular trade is set to expire on October 13, 2023, with a strike price of $45.00. The total trade price amounted to an impressive $92.9K, with an open interest of 6 and a trading volume of 2.8K.
Western Digital Corporation
WDC
Buy
Updated on: 20/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Buy
DCF: Strong Buy
ROE: Neutral
Western Digital Corporation Stock Performance and Financial Analysis in September 2023
On September 19, 2023, Western Digital Corporation (WDC) experienced fluctuations in its stock performance. The stock closed at $43.65, opened at $43.48, and traded within a range of $43.43 to $44.28. The trading volume was 161,231 shares, lower than the average volume. The market capitalization is $14.0 billion. The earnings growth rate for the previous year was -213.16%, but this year it was +53.18%. The projected earnings growth for the next five years is -13.91%. The revenue growth for the previous year was -34.45%. The P/E ratio is not provided (NM), the price-to-sales ratio is 0.98, and the price-to-book ratio is 1.29. Compared to its peers, Seagate Technology Holdings had a positive change, NetApp Inc had a slight decline, Pure Storage Inc had a small increase, and Quantum Corp remained relatively unchanged. The next reporting date is October 26, 2023, with a projected EPS of -$1.39. The company reported annual revenue of $12.3 billion with a net loss of -$1.7 billion. The company operates in the electronic technology sector, specifically in the computer peripherals industry. The corporate headquarters are located in San Jose, California.
Western Digital Corp (WDC) Stock Analysis: Price Forecasts, Financial Performance, and Outlook
On September 19, 2023, Western Digital Corp (WDC) stock had a median target price of $45.00, according to 20 analysts offering 12-month price forecasts. The high estimate for the stock price was $60.00, while the low estimate was $31.00.
The current consensus among 26 polled investment analysts is to hold stock in Western Digital Corp. This rating has remained unchanged since September.
It is important to note that the stock’s performance may be influenced by various factors, such as market conditions, industry trends, and company-specific developments. Investors should carefully consider these factors and conduct their own research before making any investment decisions.
In terms of the company’s financial performance, Western Digital Corp reported a loss of $1.39 earnings per share for the current quarter. The company’s sales for the same period were $2.8 billion. The reporting date for these financial results is scheduled for October 26.
Investors and analysts will likely closely monitor these earnings results to assess the company’s financial health and its ability to generate profits. Any significant deviations from expectations could potentially impact the stock’s performance.
Overall, Western Digital Corp’s stock performance on September 19, 2023, was influenced by analysts’ price forecasts, which indicated a modest increase in the stock price. The consensus among investment analysts was to hold the stock, reflecting a neutral outlook. Investors will eagerly await the company’s upcoming earnings report to gain further insights into its financial performance.
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