Stock Traders Buy High Volume of Put Options on Seagate Technology PLC (STX)
Seagate Technology PLC (NASDAQ:STX) was the target of some unusual options trading activity on Friday. Stock traders acquired 5,491 put options on the company. This represents an increase of approximately 165% compared to the average volume of 2,070 put options.
A number of analysts have weighed in on STX shares. BidaskClub cut Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 12th. Benchmark Co. downgraded Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC lowered Seagate Technology PLC from a “buy” rating to a “hold” rating and lowered their price objective for the company from $40.00 to $29.00 in a report on Monday, September 11th. Zacks Investment Research lowered Seagate Technology PLC from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 20th. Finally, FBN Securities lowered Seagate Technology PLC from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $40.00 to $32.00 in a report on Monday, September 11th. Four analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $40.48.
Shares of Seagate Technology PLC (STX) opened at 33.17 on Monday. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96. The stock’s 50 day moving average is $32.26 and its 200 day moving average is $40.25. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 12.86 and a beta of 1.72.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.34). The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.56 billion. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 EPS. Equities analysts expect that Seagate Technology PLC will post $3.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a yield of 7.60%. Seagate Technology PLC’s payout ratio is 97.67%.
In other Seagate Technology PLC news, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average price of $33.34 per share, with a total value of $33,340.00. Following the purchase, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Seagate Technology PLC by 3,179.5% in the 1st quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock valued at $842,196,000 after buying an additional 17,777,387 shares in the last quarter. ValueAct Holdings L.P. lifted its holdings in shares of Seagate Technology PLC by 44.8% during the 2nd quarter. ValueAct Holdings L.P. now owns 13,815,765 shares of the data storage provider’s stock worth $535,361,000 after acquiring an additional 4,276,275 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Seagate Technology PLC by 7,384.8% during the 2nd quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock worth $104,662,000 after acquiring an additional 2,664,861 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Seagate Technology PLC by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock worth $1,294,716,000 after acquiring an additional 2,292,075 shares during the period. Finally, Prudential Financial Inc. lifted its holdings in shares of Seagate Technology PLC by 355.8% during the 1st quarter. Prudential Financial Inc. now owns 2,603,387 shares of the data storage provider’s stock worth $119,573,000 after acquiring an additional 2,032,271 shares during the period. 90.00% of the stock is currently owned by hedge funds and other institutional investors.
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About Seagate Technology PLC
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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