Seagate Technology PLC (NASDAQ:STX) insider Stephen J. Luczo sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $55.40, for a total transaction of $1,939,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NASDAQ:STX traded up $0.08 during trading hours on Friday, reaching $48.29. 4,426,082 shares of the company’s stock were exchanged, compared to its average volume of 3,640,831. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.02 and a current ratio of 1.35. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 0.63 and a beta of 1.72. Seagate Technology PLC has a 12 month low of $31.70 and a 12 month high of $62.70.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, July 30th. The data storage provider reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.17. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. sell-side analysts expect that Seagate Technology PLC will post 6.3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Wednesday, September 19th will be given a $0.63 dividend. The ex-dividend date is Tuesday, September 18th. This represents a $2.52 annualized dividend and a dividend yield of 5.22%. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.
STX has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a “hold” rating and issued a $62.00 price objective on shares of Seagate Technology in a report on Monday, July 30th. Goldman Sachs Group set a $39.00 price objective on shares of Seagate Technology and gave the company a “sell” rating in a report on Wednesday. BidaskClub upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Tuesday, July 31st. Finally, ValuEngine cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Thursday, June 7th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $53.14.
Hedge funds have recently added to or reduced their stakes in the business. Certified Advisory Corp lifted its position in Seagate Technology by 436.8% in the 1st quarter. Certified Advisory Corp now owns 1,723 shares of the data storage provider’s stock worth $100,000 after buying an additional 1,402 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of Seagate Technology during the 1st quarter valued at $103,000. Quad Cities Investment Group LLC bought a new position in shares of Seagate Technology during the 2nd quarter valued at $124,000. Partners Capital Investment Group LLP bought a new position in shares of Seagate Technology during the 2nd quarter valued at $136,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Seagate Technology during the 2nd quarter valued at $146,000. Institutional investors own 83.40% of the company’s stock.
About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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