On April 10, 2023 at 10:24:16 ET an unusually large $268.18K block of Put contracts in Western Digital (WDC) was sold, with a strike price of $40.00 / share, expiring in 193 days (on October 20, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.26 sigmas above the mean, placing it in the 84.80 percentile of all recent large trades made in WDC options.
This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 36.19% Upside
As of April 6, 2023, the average one-year price target for Western Digital is $47.87. The forecasts range from a low of $31.31 to a high of $65.10. The average price target represents an increase of 36.19% from its latest reported closing price of $35.15.
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The projected annual revenue for Western Digital is $13,444MM, a decrease of 14.65%. The projected annual non-GAAP EPS is $0.24.
What is the Fund Sentiment?
There are 1171 funds or institutions reporting positions in Western Digital. This is a decrease of 70 owner(s) or 5.64% in the last quarter. Average portfolio weight of all funds dedicated to WDC is 0.19%, an increase of 2.30%. Total shares owned by institutions increased in the last three months by 0.35% to 314,249K shares. The put/call ratio of WDC is 0.79, indicating a bullish outlook.
What are Large Shareholders Doing?
Price T Rowe Associates holds 20,664K shares representing 6.47% ownership of the company. In it’s prior filing, the firm reported owning 10,702K shares, representing an increase of 48.21%. The firm increased its portfolio allocation in WDC by 83.77% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 9,675K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 9,425K shares, representing an increase of 2.59%. The firm decreased its portfolio allocation in WDC by 8.11% over the last quarter.
Franklin Resources holds 8,087K shares representing 2.53% ownership of the company. In it’s prior filing, the firm reported owning 9,702K shares, representing a decrease of 19.97%. The firm decreased its portfolio allocation in WDC by 99.98% over the last quarter.
VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 7,386K shares representing 2.31% ownership of the company. In it’s prior filing, the firm reported owning 7,243K shares, representing an increase of 1.94%. The firm decreased its portfolio allocation in WDC by 9.21% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 7,343K shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 7,097K shares, representing an increase of 3.35%. The firm decreased its portfolio allocation in WDC by 7.60% over the last quarter.
Western Digital Background Information
(This description is provided by the company.)
Western Digital creates environments for data to thrive. As a leader in data infrastructure, the company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, our industry-leading solutions deliver the possibilities of data.
This article originally appeared on Fintel
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