Seagate Technology PLC (NASDAQ:STX) Director Stephen J. Luczo sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.00, for a total value of $235,000.00. Following the transaction, the director now directly owns 14,221 shares of the company’s stock, valued at approximately $668,387. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

STX stock opened at $54.33 on Friday. Seagate Technology PLC has a twelve month low of $35.38 and a twelve month high of $54.55. The company has a quick ratio of 1.52, a current ratio of 1.95 and a debt-to-equity ratio of 1.97. The firm has a market cap of $14.55 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 10.39 and a beta of 1.65. The business has a 50 day moving average of $47.25 and a 200 day moving average of $46.83.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Friday, August 2nd. The data storage provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. Seagate Technology had a return on equity of 72.07% and a net margin of 19.36%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. On average, research analysts expect that Seagate Technology PLC will post 4.3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 25th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Tuesday, September 24th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.28%.

A number of hedge funds have recently bought and sold shares of STX. ValueAct Holdings L.P. boosted its stake in Seagate Technology by 6.9% during the 2nd quarter. ValueAct Holdings L.P. now owns 31,554,360 shares of the data storage provider’s stock valued at $1,486,841,000 after purchasing an additional 2,034,200 shares during the last quarter. BlackRock Inc. boosted its stake in Seagate Technology by 1.1% during the 1st quarter. BlackRock Inc. now owns 19,734,970 shares of the data storage provider’s stock valued at $945,106,000 after purchasing an additional 221,030 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Seagate Technology by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,857,336 shares of the data storage provider’s stock valued at $134,637,000 after purchasing an additional 94,917 shares during the last quarter. Morgan Stanley boosted its stake in Seagate Technology by 40.4% during the 2nd quarter. Morgan Stanley now owns 2,491,729 shares of the data storage provider’s stock valued at $117,410,000 after purchasing an additional 717,007 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Seagate Technology by 5.2% during the 2nd quarter. Invesco Ltd. now owns 2,036,970 shares of the data storage provider’s stock valued at $95,982,000 after purchasing an additional 101,002 shares during the last quarter. 86.92% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on STX. Wedbush began coverage on Seagate Technology in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $35.00 target price for the company. They noted that the move was a valuation call. BidaskClub raised Seagate Technology from a “sell” rating to a “hold” rating in a research report on Saturday, August 24th. Goldman Sachs Group set a $37.00 target price on Seagate Technology and gave the stock a “sell” rating in a research report on Sunday, July 21st. Cowen reissued a “market perform” rating and issued a $40.00 target price (down previously from $47.00) on shares of Seagate Technology in a research report on Monday, August 5th. Finally, Mizuho set a $46.00 target price on Seagate Technology and gave the stock a “hold” rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $44.95.

Seagate Technology Company Profile

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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