Large Inflow of Money Detected in Western Digital Corporation

Western Digital Corporation (WDC) : Tuesdays money flow data in Western Digital Corporation (WDC) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $17.16 million, whereas, $14.17 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.21, in favor of the bulls. The total money flow into the stock was $3 million clearly indicating that the smart money has been buying into the stock on weakness.

In comparison, the money flow in block deals was $1.68 million. The total value of block trades done on upticks was $1.68 million. Western Digital Corporation (WDC) fell $0.1 and traded at $46.98, down -0.21% for the day, over previous days close. On a weekly basis, the shares are 0.11% over the previous weeks close.


Also, Equity Analysts at the Goldman Sachs maintains the rating on Western Digital Corporation (NASDAQ:WDC). The brokerage firm has issued a Sell rating on the shares. The Analysts at the ratings agency raises the price target from $38 per share to $39 per share. The rating by the firm was issued on August 17, 2016.

Shares of Western Digital Corporation rose by 1.29% in the last five trading days and 2.24% for the last 4 weeks. Western Digital Corporation is up 0.02% in the last 3-month period. Year-to-Date the stock performance stands at -19.84%.

Western Digital Corporation (NASDAQ:WDC): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $47.30 and $46.73 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $47.60. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.10, notching a gain of 0.04% for the day. The total traded volume was 2,469,674 . The stock had closed at $47.08 on the previous day.

In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Western Digital Corp, Milligan Stephen D had purchased shares worth of $1,024,425 in a transaction dated on May 31, 2016. A total of 22,500 shares were purchased at a price of $45.53 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Western Digital Corporation, is a data storage solutions company. The Company is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Companys Technology product includes: Hard Disk Drives and Solid-State Drives. Hard Disk Drives, provide non-volatile data storage. Solid-State Drives, are semiconductor and non-volatile media. The Company offers solutions including: Enterprise Storage Solutions, Client Desktop and Notebook PCs, Branded Product Solutions, Consumer Electronics Solutions. The Companys products are marketed under the HGST, WD and G-Technology brand names.

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