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Western Digital

Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.

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Western Digital Corporation - Common Stock

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The stock market has a well-documented tendency to deliver gains during the final trading days of December, a phenomenon known <a href="https://www.benzinga.com/24/12/42667439/us-stocks-to-open-higher-on-shortened-trading-day-as-santa-clause-rally-period-begins-says-analyst">as the &#8220;Santa Claus rally.&#8221; </a>
This period of optimism has historically brought cheer to investors, with the S&amp;P 500 gaining in 64 out of the last 96 years during the Dec. 24–Dec. 31 window, averaging a respectable 0.85% return, according to data from Seasonax.
The Santa Claus rally's most memorable performance occurred in 2018, when the S&amp;P 500 surged 6.6%, its strongest year-end rally on record. Close on its heels was 1933, which delivered a 5.5% rally.
On the flip side, 1937 and 2000 stand out as exceptions, with losses of 4.6% and 2.4%, respectively, over the same period.
The pattern holds true even during election years, offering hope to traders as 2024 wraps up. In the past 24 election years, the S&amp;P 500 has posted gains in 15 instances, averaging a modest 0.7% return. Notable rallies occurred in 2008, with a 4% rise, and in 1928, when the index climbed 3.4%.
<h3 class="wp-block-heading">10 Santa Rally Hyper Responders</h3>
For traders looking to capitalize on this seasonal tailwind, certain stocks have consistently outperformed during the Santa Claus rally window.
Here are 10 notable S&amp;P 500 stocks that have historically shone between Dec. 24 and Dec. 31 over the last 20 years:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Avg. Return</th>
<th>Median Return</th>
<th>Max Profit</th>
<th>Max Loss</th>
<th>Win Ratio</th>
</tr>
</thead>
<tbody>
<tr>
<td>Newmont Mining Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</td>
<td>+1.68%</td>
<td>+1.36%</td>
<td>+10.76%</td>
<td>-2.97%</td>
<td>65%</td>
</tr>
<tr>
<td>Illumina, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>)</td>
<td>+1.49%</td>
<td>+1.25%</td>
<td>+10.08%</td>
<td>-2.64%</td>
<td>60%</td>
</tr>
<tr>
<td>Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>+1.42%</td>
<td>+0.96%</td>
<td>+10.96%</td>
<td>-3.60%</td>
<td>60%</td>
</tr>
<tr>
<td>Assurant, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIZ#NYSE">AIZ</a>)</td>
<td>+1.41%</td>
<td>+0.56%</td>
<td>+14.33%</td>
<td>-4.07%</td>
<td>65%</td>
</tr>
<tr>
<td>Mohawk Industries, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>)</td>
<td>+1.32%</td>
<td>+1.22%</td>
<td>+8.81%</td>
<td>-3.94%</td>
<td>65%</td>
</tr>
<tr>
<td>Global Payments Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>)</td>
<td>+1.32%</td>
<td>+0.95%</td>
<td>+8.14%</td>
<td>-1.51%</td>
<td>75%</td>
</tr>
<tr>
<td>Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)</td>
<td>+1.28%</td>
<td>+0.52%</td>
<td>+9.27%</td>
<td>-2.89%</td>
<td>60%</td>
</tr>
<tr>
<td>Goldman Sachs Group, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</td>
<td>+1.27%</td>
<td>+0.39%</td>
<td>+10.40%</td>
<td>-1.41%</td>
<td>70%</td>
</tr>
<tr>
<td>ON Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>)</td>
<td>+1.25%</td>
<td>+1.13%</td>
<td>+9.63%</td>
<td>-4.70%</td>
<td>60%</td>
</tr>
<tr>
<td>Ralph Lauren Corp. (NYSE RL)</td>
<td>+1.19%</td>
<td>+0.51%</td>
<td>+8.21%</td>
<td>-2.36%</td>
<td>65%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: Seasonax</figcaption></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42671903/investors-aggressively-bought-stocks-etfs-despite-fed-volatile-week-bank-of-america-reveals-largest-inflows-since-2017">Investors Aggressively Bought Stocks, ETFs In Volatile Fed Week: Bank Of America Reveals Largest Inflows Since 2017</a></li>
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Photo: Shutterstock

Education

ILMN

Santa Claus Rally: 10 S&P 500 Stocks That Consistently Outperform During Year-End Optimism

It's the holiday season, but the stock market's festivities have been anything but cheerful this week.
At the week&#8217;s start traders were buoyed by a record-breaking Nasdaq 100 topping 22,000 and an optimistic outlook on interest rate cuts ahead <a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025">of the Federal Reserve meeting</a>.
All signs pointed to the Santa Rally – a time Wall Street traditionally celebrates with stocks climbing during the final stretch of the year – making its grand entrance yet again in 2025.
Yet, just as traders were preparing for a festive year-end bull run, the Grinch arrived midweek to throw a wrench in the celebrations.
<h3 class="wp-block-heading">The Grinch Steals The Show</h3>
Wednesday marked a dramatic turn of events as the Federal Reserve's hawkish tone sent shockwaves through the markets. 
Chair Jerome Powell delivered a lump of coal to investors by declaring a "new phase" for monetary policy. While the Fed had already cut rates by 100 basis points since September, Powell hinted at a prolonged pause, citing rates moving &#8220;meaningfully&#8221; closer to neutral territory. 
The implications were clear: the days of aggressive cuts are over. Even worse than that, the Grinch didn&#8217;t rule out the possibility of a rate hike next year. This unexpected twist sent shivers down traders&#8217; spines, leaving markets rattled.
The CBOE Volatility Index or VIX – Wall Street's so-called fear gauge – spiked over 70% on Wednesday, its sharpest single-day surge since February 2018. 
The S&amp;P 500 and Dow Jones Industrial Average recorded their worst daily performances in over two years, while tech stocks sank like a stone in deep water.
Hopes for a Santa Rally seemed to crumble as the Grinch stole the show. 
<h3 class="wp-block-heading">A Christmas Miracle?</h3>
Just when it seemed all was lost, Friday brought a glimmer of hope—the kind of plot twist only a Christmas story could deliver. 
Fresh inflation data offered an unexpected gift to traders: the Fed's personal consumption expenditure (PCE) price index rose by 2.4% in November, falling short of the anticipated 2.5%. Even more encouraging, the core PCE, which excludes volatile food and energy prices, held steady at 2.8%, undercutting predictions of 2.9%.
This softer-than-expected inflation print was the equivalent to finding a shiny new toy under the tree.
Risk appetite rebounded swiftly, with traders rushing to scoop up the stocks battered during the week's earlier sell-off. 
Sentiment brightened, and with it, the Santa Rally narrative began to regain momentum.
<h3 class="wp-block-heading">The Santa Rally And Its Legacy</h3>
The stock market has a long-standing tendency to rally during the last trading days of December. 
According to data from Seasonax, the S&amp;P 500 has posted gains during the Dec. 20–Dec. 31 period in 76 out of the past 96 years, averaging a 1.92% return. Over the last eight years, this year-end rally has been remarkably consistent, delivering positive returns each time.
In the past three decades, the S&amp;P 500 has ended the year on a high note in 24 of 30 instances. Even the losses have been relatively mild, with the most recent December downturn occurring in 2022 when the index slipped by 1.8% during the final days.
With six trading days left in 2024, traders may still have time to save the Santa Rally.
<h3 class="wp-block-heading">10 Stocks To Watch For Year-End Gains</h3>
Looking back at 20 years of data, here are 10 standout names within the S&amp;P 500 index that have consistently delivered strong year-end performances: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<th>Stock</th>
<th>Avg. Return</th>
<th>Max Gain</th>
<th>Max Loss</th>
<th>Win Ratio</th>
</tr>
<tr>
<td>Freeport-McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>)</td>
<td>+3.63%</td>
<td>+14.63%</td>
<td>-13.51%</td>
<td>90%</td>
</tr>
<tr>
<td>Illumina, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>)</td>
<td>+3.62%</td>
<td>+20.76%</td>
<td>-2.56%</td>
<td>80%</td>
</tr>
<tr>
<td>Newmont Mining Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>)</td>
<td>+3.37%</td>
<td>+16.14%</td>
<td>-3.66%</td>
<td>75%</td>
</tr>
<tr>
<td>The Mosaic Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOS#NYSE">MOS</a>)</td>
<td>+3.29%</td>
<td>+13.26%</td>
<td>-5.98%</td>
<td>75%</td>
</tr>
<tr>
<td>Global Payments Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>)</td>
<td>+3.06%</td>
<td>+9.31%</td>
<td>-2.12%</td>
<td>75%</td>
</tr>
<tr>
<td>CBRE Group, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>)</td>
<td>+2.94%</td>
<td>+13.46%</td>
<td>-2.25%</td>
<td>75%</td>
</tr>
<tr>
<td>Invesco Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>)</td>
<td>+2.80%</td>
<td>+10.23%</td>
<td>-2.83%</td>
<td>70%</td>
</tr>
<tr>
<td>ON Semiconductor Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>)</td>
<td>+2.73%</td>
<td>+11.45%</td>
<td>-3.78%</td>
<td>70%</td>
</tr>
<tr>
<td>Mohawk Industries, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>)</td>
<td>+2.60%</td>
<td>+13.58%</td>
<td>-6.57%</td>
<td>70%</td>
</tr>
<tr>
<td>Western Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>+2.59%</td>
<td>+22.24%</td>
<td>-3.78%</td>
<td>65%</td>
</tr>
</tbody>
</table>
</figure>
Read now: 
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<li><a href="https://www.benzinga.com/24/12/42627985/which-magnificent-7-stock-will-gain-the-most-in-a-santa-claus-rally-28-select">Which Magnificent 7 Stock Will Do Best In Santa Claus Rally? Tesla Edged Out As 28% Select…</a></li>
</ul>
Photo: Courtesy of Shutterstock.

Equities

Macro Economic Events

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Economics

Federal Reserve

CBRE

Traders Fight The Grinch To Save The Santa Rally: 10 S&P 500 Stocks Poised For A Year-End Surge

WIIM

Western Digital shares are trading lower. Morgan Stanley maintained its Overweight rating on the stock and lowered its price target to $93

Western Digital shares are trading lower after Morgan Stanley cut its price target on the stock from $100 to $93.

Financial giants have made a conspicuous bearish move on Western Digital. Our analysis of options history for Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $122,160, and 5 were calls, valued at $221,598.
<h3>Predicted Price Range</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $57.5 to $75.0 for Western Digital during the past quarter. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Western Digital's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Western Digital's substantial trades, within a strike price spectrum from $57.5 to $75.0 over the preceding 30 days.
<h3>Western Digital 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734635904_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$5.9</td>
<td>$5.8</td>
<td>$5.8</td>
<td>$60.00</td>
<td>$82.3K</td>
<td>307</td>
<td align="right">142</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$2.33</td>
<td>$2.1</td>
<td>$2.3</td>
<td>$75.00</td>
<td>$46.6K</td>
<td>6.5K</td>
<td align="right">886</td>
</tr>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$11.8</td>
<td>$11.75</td>
<td>$11.8</td>
<td>$67.50</td>
<td>$44.8K</td>
<td>145</td>
<td align="right">34</td>
</tr>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/18/25</td>
<td>$5.2</td>
<td>$4.95</td>
<td>$5.2</td>
<td>$57.50</td>
<td>$39.5K</td>
<td>152</td>
<td align="right">178</td>
</tr>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$5.25</td>
<td>$4.95</td>
<td>$5.25</td>
<td>$57.50</td>
<td>$37.8K</td>
<td>152</td>
<td align="right">786</td>
</tr>
</tbody>
</table>

<h3>About Western Digital</h3>
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
Having examined the options trading patterns of Western Digital, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Western Digital</h3>
<ul>
<li>With a trading volume of 7,199,014, the price of WDC is down by -3.01%, reaching $61.63.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 35 days from now.</li>
</ul>
<h3>What The Experts Say On Western Digital</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $85.75.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Western Digital, targeting a price of $85. 
&#x2A; Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Western Digital, targeting a price of $93. 
&#x2A; Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $70. 
&#x2A; In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $95. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Western Digital options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Smart Money Is Betting Big In WDC Options

In the preceding three months, 12 analysts have released ratings for Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>), presenting a wide array of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">5</td>
<td align="right">6</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">4</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $92.08, a high estimate of $115.00, and a low estimate of $70.00. Surpassing the previous average price target of $89.58, the current average has increased by 2.79%.
<img src="https://www.benzinga.com/files/images/story/2024/1734631242_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
A clear picture of Western Digital's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Joseph Moore</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$93.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Mark Miller</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$70.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Asiya Merchant</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$85.00</td>
<td>$87.00</td>
</tr>
<tr>
<td>C J Muse</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$95.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Tom O'Malley</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$90.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>C J Muse</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$95.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Matt Bryson</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Medhi Hosseini</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$83.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Mark Miller</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$92.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Joseph Moore</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$100.00</td>
<td>$94.00</td>
</tr>
<tr>
<td>Kevin Cassidy</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Buy</td>
<td>$115.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Mark Miller</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$92.00</td>
<td>$92.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Western Digital. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Western Digital compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Western Digital's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Western Digital's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/WDC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Western Digital analyst ratings.</a>
<h2>Get to Know Western Digital Better</h2>
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
<h3>Understanding the Numbers: Western Digital's Finances</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Western Digital showcased positive performance, achieving a revenue growth rate of 48.91% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: Western Digital's net margin is impressive, surpassing industry averages. With a net margin of 11.75%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Western Digital's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 4.28%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Western Digital's ROA stands out, surpassing industry averages. With an impressive ROA of 1.96%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Western Digital's debt-to-equity ratio is below the industry average. With a ratio of 0.64, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>What Are Analyst Ratings?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;utm_source=benzinga-insights">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Assessing Western Digital: Insights From 12 Financial Analysts

Morgan Stanley analyst Joseph Moore maintains Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) with a Overweight and lowers the price target from $100 to $93.

Price Target

Morgan Stanley Maintains Overweight on Western Digital, Lowers Price Target to $93

Benchmark analyst Mark Miller reiterates Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) with a Buy and maintains $70 price target.

Reiteration

Benchmark Reiterates Buy on Western Digital, Maintains $70 Price Target

Western Digital shares are trading lower following the company's presentation at the Barclays 22nd Annual Global Technology Conference.

Watching Western Digital, Seagate Technology; Shares See Volume To The Downside, Western Digital Currently Presenting At The Barclays 22nd Annual Global Technology Conference

The Santa Rally refers to a seasonal stock market trend where equities historically see stronger gains during the <a href="https://www.benzinga.com/24/12/42269611/dollar-enters-its-most-bearish-month-of-the-year-could-december-2024-be-any-different">final stretch of December. </a>
This phenomenon, often fueled by holiday cheer, year-end portfolio rebalancing, and investor optimism, has been a recurring pattern for decades.
 But what makes December stand out, and which stocks have historically outperformed during this period? 
Let's dig into the numbers.
<h3 class="wp-block-heading">December: A Seasonal Sweet Spot For Stocks</h3>
After a strong rally in November, with the S&amp;P 500 – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – rallying 6%, &#8220;momentum could continue for stocks as historically it has been a good month for stock market seasonals,&#8221; said George Smith, portfolio strategist at LPL Financials. 
Since 1950, December ranks as the second-best month for the S&amp;P 500, delivering an average return of 1.6%. Only November performs better, with a historical average of 1.8%. 
Smith also highlighted that the second half of December has typically delivered the lion's share of these gains, generating the so-called &#8220;Santa Rally&#8221; effect. 
Historically, stocks tend to stall or even decline slightly during the first half of the month before momentum builds around mid-December. Data suggests that the upward trajectory starts gaining steam near the 11th trading day of the month and accelerates as Christmas approaches.
<h3 class="wp-block-heading">Top 10 S&amp;P 500 Stocks With Strong Christmas Seasonality</h3>
For investors looking to capitalize on the Santa Rally, certain stocks have a history of delivering outsized gains in the back half of December. 
Looking back at the last 20 years of data, here are the top 10 S&amp;P 500 stocks that have historically shown the strongest average returns between Dec. 12 and Dec. 31:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Rank</th>
<th>Stock</th>
<th>Average Return</th>
<th>Median Return</th>
<th>Max Profit</th>
<th>Max Loss</th>
<th>Win Ratio</th>
<th>Sharpe Ratio</th>
</tr>
</thead>
<tbody>
<tr>
<td>1</td>
<td>Illumina, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILM#NASDAQ">ILM</a>)</td>
<td>+4.94%</td>
<td>+5.17%</td>
<td>+19.39%</td>
<td>-10.98%</td>
<td>75%</td>
<td>4.27</td>
</tr>
<tr>
<td>2</td>
<td>Invesco Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>)</td>
<td>+4.34%</td>
<td>+3.04%</td>
<td>+23.10%</td>
<td>-5.10%</td>
<td>80%</td>
<td>3.72</td>
</tr>
<tr>
<td>3</td>
<td>Valero Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>)</td>
<td>+3.78%</td>
<td>+4.37%</td>
<td>+12.89%</td>
<td>-8.52%</td>
<td>80%</td>
<td>3.70</td>
</tr>
<tr>
<td>4</td>
<td>Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>)</td>
<td>+3.73%</td>
<td>+3.84%</td>
<td>+24.23%</td>
<td>-13.26%</td>
<td>70%</td>
<td>2.75</td>
</tr>
<tr>
<td>5</td>
<td>Mohawk Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>)</td>
<td>+3.47%</td>
<td>+2.19%</td>
<td>+20.26%</td>
<td>-4.35%</td>
<td>70%</td>
<td>3.18</td>
</tr>
<tr>
<td>6</td>
<td>Freeport-McMoRan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>)</td>
<td>+3.34%</td>
<td>+4.60%</td>
<td>+25.84%</td>
<td>-15.06%</td>
<td>75%</td>
<td>2.03</td>
</tr>
<tr>
<td>7</td>
<td>BlackRock, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>)</td>
<td>+3.32%</td>
<td>+3.62%</td>
<td>+11.64%</td>
<td>-1.69%</td>
<td>80%</td>
<td>3.49</td>
</tr>
<tr>
<td>8</td>
<td>Global Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>)</td>
<td>+3.30%</td>
<td>+3.35%</td>
<td>+12.38%</td>
<td>-8.28%</td>
<td>80%</td>
<td>3.44</td>
</tr>
<tr>
<td>9</td>
<td>CBRE Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>)</td>
<td>+3.20%</td>
<td>+3.24%</td>
<td>+13.27%</td>
<td>-7.11%</td>
<td>75%</td>
<td>2.22</td>
</tr>
<tr>
<td>10</td>
<td>Royal Caribbean Cruises Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>)</td>
<td>+3.14%</td>
<td>+1.80%</td>
<td>+36.95%</td>
<td>-14.54%</td>
<td>55%</td>
<td>2.36</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: Seasonax</figcaption></figure>
Read Next:
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<li><a href="https://www.benzinga.com/general/entertainment/24/12/42278850/why-this-streaming-giant-could-be-decembers-best-stock-pick-backed-by-20-years-of-data">Why This Streaming Giant Could Be December&#8217;s Best Stock Pick, Backed By 20 Years Of Data</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Large Cap

Mid Cap

Broad U.S. Equity ETFs

Tech

ETFs

Santa Rally: 10 S&P 500 Stocks That Outperform In December's Second Half

Western Digital shares are trading lower after Citigroup cut its price target on the stock from  $87 to $85.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Keefe, Bruyette &amp; Woods raised the price target for Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) from $50 to $57. Keefe, Bruyette &amp; Woods analyst David Konrad maintained an Outperform rating. Bank of America shares closed at $47.04 on Monday. <a href="https://www.benzinga.com/quote/BAC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley cut the price target for Zscaler (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) from $215 to $205. Morgan Stanley analyst Hamza Fodderwala maintained an Equal-Weight rating. Kohl&#8217;s shares closed at $208.51 on Monday. <a href="https://www.benzinga.com/quote/ZS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Piper Sandler boosted Fastly, Inc. (NNY FSLY) price target from $8 to $10. Piper Sandler analyst James Fish maintained a Neutral rating. Fastly shares settled at $9.87 on Monday. <a href="https://www.benzinga.com/quote/FSLY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank raised UnitedHealth Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) price target from $595 to $625. Deutsche Bank analyst George Hill maintained a Buy rating. UnitedHealth shares closed at $608.52 on Monday. <a href="https://www.benzinga.com/quote/UNH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup cut Western Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) price target from $87 to $85. Citigroup analyst Asiya Merchant maintained a Buy rating. Western Digital shares closed at $73.43 on Monday.  <a href="https://www.benzinga.com/quote/WDC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays boosted PTC Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTCT#NASDAQ">PTCT</a>) price target from $45 to $56. Barclays analyst Gena Wang maintained an Equal-Weight rating on the stock. PTC Therapeutics shares closed at $52.07 on Monday. See how other analysts view this stock.</li>
<li>JP Morgan increased the price target for FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) from $350 to $366. JP Morgan analyst Brian Ossenbeck maintained an Overweight rating. FedEx shares settled at $296.69 on Monday. <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>DA Davidson boosted Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) price target from $250 to $300. DA Davidson analyst Gil Luria maintained a Neutral rating. Salesforce shares closed at $331.01 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wells Fargo increased the price target for Webster Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) from $60 to $70. Wells Fargo analyst Timur Braziler maintained an Equal-Weight rating. Webster Financial shares closed at $60.94 on Monday. <a href="https://www.benzinga.com/quote/WBS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies raised The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) price target from $54 to $73. Jefferies analyst Rob Dickerson upgraded the stock from Hold to Buy. Kroger shares closed at $60.15 on Monday. <a href="https://www.benzinga.com/quote/KR/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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</ul>

PTCT

Bank of America To Rally More Than 21%? Here Are 10 Top Analyst Forecasts For Tuesday

Citigroup analyst Asiya Merchant maintains Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) with a Buy and lowers the price target from $87 to $85.

Citigroup Maintains Buy on Western Digital, Lowers Price Target to $85

Across the recent three months, 12 analysts have shared their insights on Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>), expressing a variety of opinions spanning from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">5</td>
<td align="right">6</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">2</td>
<td align="right">4</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $91.83, a high estimate of $115.00, and a low estimate of $80.00. Observing a 1.28% increase, the current average has risen from the previous average price target of $90.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1732640438_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
A comprehensive examination of how financial experts perceive Western Digital is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>C J Muse</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$95.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Tom O'Malley</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$90.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>C J Muse</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$95.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Matt Bryson</td>
<td>Wedbush</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$95.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Medhi Hosseini</td>
<td>Susquehanna</td>
<td>Raises</td>
<td>Neutral</td>
<td>$83.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Mark Miller</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$92.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Joseph Moore</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$100.00</td>
<td>$94.00</td>
</tr>
<tr>
<td>Kevin Cassidy</td>
<td>Rosenblatt</td>
<td>Maintains</td>
<td>Buy</td>
<td>$115.00</td>
<td>$115.00</td>
</tr>
<tr>
<td>Mark Miller</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$92.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Karl Ackerman</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$80.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>Asiya Merchant</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$85.00</td>
<td>$95.00</td>
</tr>
<tr>
<td>C J Muse</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$80.00</td>
<td>$80.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Western Digital. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Western Digital compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Western Digital's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Western Digital's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/WDC/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Western Digital analyst ratings.</a>
<h2>Unveiling the Story Behind Western Digital</h2>
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
<h3>A Deep Dive into Western Digital's Financials</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: Over the 3 months period, Western Digital showcased positive performance, achieving a revenue growth rate of 48.91% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: Western Digital's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 11.75% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Western Digital's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 4.28% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Western Digital's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.96%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.64.
<h2>Analyst Ratings: What Are They?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
Breaking: Wall Street's Next Big Mover
Benzinga's #1 analyst just identified a stock poised for explosive growth. This under-the-radar company could surge 200%+ as major market shifts unfold. <a href="https://www.benzinga.com/premium/ideas/turning-point-trader-checkout-2/?t=Tu1tu3arja3be22tu36&amp;utm_source=benzinga-insights">Click here for urgent details</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

A Glimpse Into The Expert Outlook On Western Digital Through 12 Analysts

Cantor Fitzgerald analyst C J Muse reiterates Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) with a Overweight and maintains $95 price target.

Cantor Fitzgerald Reiterates Overweight on Western Digital, Maintains $95 Price Target

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CMCM

COMM

CRNT

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FOXX

LIDR

LPTH

MYSZ

PSTG

RCAT

SHOP

SMCI

SOBR

VRAR

VUZI

ZEPP

Shares of companies within the broader tech sector are trading higher, with stocks rising amid a drop in yields. President-elect Trump nominated Scott Bessent as Treasury Secretary.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/29/24</td>
<td>$37.00</td>
<td>$47.5K</td>
<td>11.8K</td>
<td>19.9K</td>
</tr>
<tr>
<td>PCOR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$75.00</td>
<td>$59.1K</td>
<td>10.0K</td>
<td>8.5K</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$72.50</td>
<td>$29.7K</td>
<td>3.6K</td>
<td>6.0K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/29/24</td>
<td>$417.50</td>
<td>$44.2K</td>
<td>3.6K</td>
<td>5.9K</td>
</tr>
<tr>
<td>WOLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$8.00</td>
<td>$118.9K</td>
<td>5.9K</td>
<td>4.8K</td>
</tr>
<tr>
<td>ALAB</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$105.00</td>
<td>$78.7K</td>
<td>1.2K</td>
<td>4.7K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$1080.00</td>
<td>$32.3K</td>
<td>3.6K</td>
<td>3.0K</td>
</tr>
<tr>
<td>VSAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$11.00</td>
<td>$89.6K</td>
<td>805</td>
<td>2.1K</td>
</tr>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$160.00</td>
<td>$94.9K</td>
<td>10.1K</td>
<td>2.0K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$50.00</td>
<td>$86.0K</td>
<td>14.0K</td>
<td>1.5K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a call option sweep with bullish sentiment. It expires in 4 day(s) on November 29, 2024. Parties traded 200 contract(s) at a $37.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $47.5K, with a price of $236.0 per contract. There were 11870 open contracts at this strike prior to today, and today 19963 contract(s) were bought and sold. 
• For PCOR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>), we notice a call option sweep that happens to be bearish, expiring in 25 day(s) on December 20, 2024. This event was a transfer of 116 contract(s) at a $75.00 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $59.1K, with a price of $510.0 per contract. There were 10004 open contracts at this strike prior to today, and today 8509 contract(s) were bought and sold. 
• Regarding WDC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>), we observe a call option sweep with bearish sentiment. It expires in 53 day(s) on January 17, 2025. Parties traded 116 contract(s) at a $72.50 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $29.7K, with a price of $256.0 per contract. There were 3655 open contracts at this strike prior to today, and today 6012 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option sweep that happens to be bearish, expiring in 4 day(s) on November 29, 2024. This event was a transfer of 200 contract(s) at a $417.50 strike. This particular call needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $44.2K, with a price of $221.0 per contract. There were 3659 open contracts at this strike prior to today, and today 5924 contract(s) were bought and sold. 
• For WOLF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), we notice a put option sweep that happens to be bearish, expiring in 53 day(s) on January 17, 2025. This event was a transfer of 1034 contract(s) at a $8.00 strike. This particular put needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $118.9K, with a price of $115.0 per contract. There were 5934 open contracts at this strike prior to today, and today 4899 contract(s) were bought and sold. 
• For ALAB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>), we notice a put option sweep that happens to be bullish, expiring in 25 day(s) on December 20, 2024. This event was a transfer of 129 contract(s) at a $105.00 strike. This particular put needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $78.7K, with a price of $610.0 per contract. There were 1280 open contracts at this strike prior to today, and today 4716 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option trade that happens to be bearish, expiring in 53 day(s) on January 17, 2025. This event was a transfer of 10 contract(s) at a $1080.00 strike. The total cost received by the writing party (or parties) was $32.3K, with a price of $3239.0 per contract. There were 3697 open contracts at this strike prior to today, and today 3067 contract(s) were bought and sold. 
• For VSAT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>), we notice a call option sweep that happens to be bearish, expiring in 53 day(s) on January 17, 2025. This event was a transfer of 995 contract(s) at a $11.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $89.6K, with a price of $90.0 per contract. There were 805 open contracts at this strike prior to today, and today 2113 contract(s) were bought and sold. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with neutral sentiment. It expires in 417 day(s) on January 16, 2026. Parties traded 40 contract(s) at a $160.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $94.9K, with a price of $2373.0 per contract. There were 10192 open contracts at this strike prior to today, and today 2064 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option sweep that happens to be bullish, expiring in 417 day(s) on January 16, 2026. This event was a transfer of 94 contract(s) at a $50.00 strike. This particular call needed to be split into 33 different trades to become filled. The total cost received by the writing party (or parties) was $86.0K, with a price of $915.0 per contract. There were 14021 open contracts at this strike prior to today, and today 1529 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ALAB

MARA

MSFT

MSTR

PCOR

VSAT

WOLF

10 Information Technology Stocks With Whale Alerts In Today's Session

Western Digital's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NYSE">WDC</a>) short percent of float has fallen 9.85% since its last report. The company recently reported that it has 16.25 million shares sold short, which is 5.31% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.55 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Western Digital Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732545022_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Western Digital has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Western Digital's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Western Digital's peer group average for short interest as a percentage of float is 6.86%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Peering Into Western Digital's Recent Short Interest

Deep-pocketed investors have adopted a bullish approach towards Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in WDC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Western Digital. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 75% leaning bullish and 25% bearish. Among these notable options, 2 are puts, totaling $157,420, and 6 are calls, amounting to $266,767.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $60.0 to $70.0 for Western Digital over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Western Digital's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Western Digital's whale activity within a strike price range from $60.0 to $70.0 in the last 30 days. 
<h3>Western Digital Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732037461_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.7</td>
<td>$4.55</td>
<td>$4.55</td>
<td>$60.00</td>
<td>$90.5K</td>
<td>612</td>
<td align="right">13</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$5.95</td>
<td>$5.85</td>
<td>$5.95</td>
<td>$60.00</td>
<td>$72.0K</td>
<td>194</td>
<td align="right">121</td>
</tr>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/06/24</td>
<td>$5.35</td>
<td>$5.2</td>
<td>$5.35</td>
<td>$70.00</td>
<td>$66.8K</td>
<td>133</td>
<td align="right">125</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$5.2</td>
<td>$5.0</td>
<td>$5.2</td>
<td>$70.00</td>
<td>$52.0K</td>
<td>361</td>
<td align="right">0</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4.15</td>
<td>$4.0</td>
<td>$4.1</td>
<td>$65.00</td>
<td>$40.9K</td>
<td>4.0K</td>
<td align="right">116</td>
</tr>
</tbody>
</table>

<h3>About Western Digital</h3>
Western Digital is a leading vertically integrated supplier of data storage solutions, spanning both hard disk drives and solid-state drives. In the HDD market it forms a practical duopoly with Seagate, and it is the largest global producer of NAND flash chips for SSDs in a joint venture with competitor Kioxia.
Having examined the options trading patterns of Western Digital, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Western Digital</h3>
<ul>
<li>Currently trading with a volume of 877,567, the WDC's price is up by 0.98%, now at $65.21. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 65 days.</li>
</ul>
<h3>Expert Opinions on Western Digital</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $92.6.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Western Digital, targeting a price of $95. 
&#x2A; An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $95. 
&#x2A; Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Western Digital with a target price of $90. 
&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Western Digital with a target price of $100. 
&#x2A; An analyst from Susquehanna has decided to maintain their Neutral rating on Western Digital, which currently sits at a price target of $83. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Western Digital options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Spotlight on Western Digital: Analyzing the Surge in Options Activity

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Press Releases

Western Digital to Announce Fourth Quarter and Fiscal Year 2024 Financial Results on July 31, 2024

Western Digital Reports Fiscal Fourth Quarter and Fiscal Year 2024 Financial Results

Western Digital to Participate in Upcoming Investor Conferences

Western Digital to Announce First Quarter Fiscal Year 2025 Financial Results on October 24, 2024

Western Digital Enterprise SSDs Certified to Support NVIDIA GB200 NVL72 System for Compute-Intensive AI Environments

Western Digital Delivers World's Highest Capacity ePMR HDDs to Meet Growing Nearline Demand

Western Digital Reports Fiscal First Quarter 2025 Financial Results

Western Digital CEO David Goeckeler Elected Chair of Semiconductor Industry Association

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