Insider Selling: Seagate Technology PLC (STX) Insider Sells 5,000 Shares of Stock
Seagate Technology PLC (NASDAQ:STX) insider Philip G. Brace sold 5,000 shares of Seagate Technology stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $48.40, for a total value of $242,000.00. Following the completion of the transaction, the insider now owns 16,069 shares of the company’s stock, valued at $777,739.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Seagate Technology PLC (STX) traded up $0.25 on Tuesday, hitting $51.51. The stock had a trading volume of 6,861,000 shares, compared to its average volume of 4,840,000. The company has a market capitalization of $14,900.00, a PE ratio of 19.51, a PEG ratio of 0.76 and a beta of 1.68. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $52.33.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share. equities analysts forecast that Seagate Technology PLC will post 4.32 earnings per share for the current fiscal year.
A number of equities analysts recently commented on STX shares. Mizuho reiterated a “hold” rating and issued a $36.00 price target on shares of Seagate Technology in a research note on Monday, October 9th. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, October 26th. BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 25th. Jefferies Group set a $29.00 price target on Seagate Technology and gave the stock a “hold” rating in a research note on Sunday, October 15th. Finally, Morgan Stanley lifted their price target on Seagate Technology from $32.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Four equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $43.39.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP raised its holdings in shares of Seagate Technology by 16,536.4% during the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after buying an additional 3,638 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Seagate Technology during the second quarter valued at approximately $150,000. Balentine LLC raised its holdings in shares of Seagate Technology by 56.8% during the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after buying an additional 1,619 shares during the last quarter. New England Research & Management Inc. bought a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $205,000. Finally, SpiderRock Advisors LLC raised its holdings in shares of Seagate Technology by 2,419.5% during the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after buying an additional 5,347 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors.
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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.
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