Insider Selling: Seagate Technology PLC (STX) CFO Sells 11,491 Shares of Stock

Seagate Technology PLC (NASDAQ:STX) CFO David H. Morton, Jr. sold 11,491 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $51.78, for a total transaction of $595,003.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Seagate Technology PLC (STX) opened at $53.29 on Friday. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $56.45. The firm has a market cap of $15,750.00, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 0.68 and a beta of 1.88. The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 4.07.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.09. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same period last year, the firm earned $1.38 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. equities research analysts anticipate that Seagate Technology PLC will post 4.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st will be issued a $0.63 dividend. The ex-dividend date is Tuesday, March 20th. This represents a $2.52 annualized dividend and a dividend yield of 4.73%. Seagate Technology’s dividend payout ratio is currently 115.07%.

STX has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Vetr lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 target price on the stock. in a research note on Tuesday, October 31st. BidaskClub lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Wells Fargo & Co began coverage on shares of Seagate Technology in a research note on Tuesday, November 14th. They set a “market perform” rating and a $38.00 target price on the stock. Finally, ValuEngine raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $49.92.

Several hedge funds have recently made changes to their positions in the company. ValueAct Holdings L.P. raised its holdings in shares of Seagate Technology by 55.3% in the third quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after purchasing an additional 7,642,835 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Seagate Technology by 7.4% in the fourth quarter. Two Sigma Advisers LP now owns 5,461,842 shares of the data storage provider’s stock valued at $228,523,000 after purchasing an additional 375,667 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Seagate Technology by 4.2% in the third quarter. APG Asset Management N.V. now owns 3,392,370 shares of the data storage provider’s stock valued at $112,525,000 after purchasing an additional 135,300 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Seagate Technology by 28.5% in the third quarter. First Trust Advisors LP now owns 3,044,778 shares of the data storage provider’s stock valued at $100,995,000 after purchasing an additional 674,442 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Seagate Technology by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,904,107 shares of the data storage provider’s stock valued at $121,509,000 after purchasing an additional 7,989 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

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About Seagate Technology

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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