Philip G. Brace Sells 12,000 Shares of Seagate Technology PLC (STX) Stock
Seagate Technology PLC (NASDAQ:STX) insider Philip G. Brace sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $46.44, for a total value of $557,280.00. Following the sale, the insider now directly owns 27,069 shares of the company’s stock, valued at $1,257,084.36. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of Seagate Technology PLC (STX) opened at $51.26 on Friday. The stock has a market capitalization of $14,830.00, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 0.57 and a beta of 1.68. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. Seagate Technology PLC has a fifty-two week low of $30.60 and a fifty-two week high of $51.88.
Seagate Technology (NASDAQ:STX) last released its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s revenue was down 5.9% on a year-over-year basis. equities research analysts forecast that Seagate Technology PLC will post 4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 4.92%. The ex-dividend date was Tuesday, December 19th. Seagate Technology’s payout ratio is presently 95.45%.
Large investors have recently made changes to their positions in the company. WFG Advisors LP grew its holdings in shares of Seagate Technology by 16,536.4% during the 2nd quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 3,638 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $150,000. Balentine LLC grew its holdings in shares of Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after purchasing an additional 1,619 shares in the last quarter. New England Research & Management Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $205,000. Finally, SpiderRock Advisors LLC grew its holdings in shares of Seagate Technology by 2,419.5% during the 3rd quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock worth $184,000 after purchasing an additional 5,347 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors.
STX has been the subject of a number of recent research reports. Zacks Investment Research raised 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. Vetr raised Seagate Technology from a “buy” rating to a “strong-buy” rating and set a $41.39 price target for the company in a research note on Monday, November 6th. Argus reaffirmed a “hold” rating and set a $40.00 price target on shares of Seagate Technology in a research note on Tuesday, October 24th. Guggenheim reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Monday, October 23rd. Finally, Cowen reaffirmed a “hold” rating and set a $36.00 price target on shares of Seagate Technology in a research note on Friday, October 13th. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Seagate Technology presently has a consensus rating of “Hold” and a consensus target price of $43.39.
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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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