Seagate Technology PLC (STX) Insider Sells $557,280.00 in Stock

Seagate Technology PLC (NASDAQ:STX) insider Philip G. Brace sold 12,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $46.44, for a total transaction of $557,280.00. Following the completion of the sale, the insider now owns 27,069 shares in the company, valued at $1,257,084.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of Seagate Technology PLC (NASDAQ STX) opened at $49.01 on Friday. The stock has a market cap of $14,180.00, a P/E ratio of 18.56, a P/E/G ratio of 0.57 and a beta of 1.68. Seagate Technology PLC has a 1 year low of $30.60 and a 1 year high of $50.96. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 4.03.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.10. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. analysts expect that Seagate Technology PLC will post 4 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 5.14%. The ex-dividend date was Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is 95.45%.

A number of large investors have recently modified their holdings of STX. WFG Advisors LP grew its position in Seagate Technology by 16,536.4% in the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after acquiring an additional 3,638 shares in the last quarter. Balentine LLC grew its position in Seagate Technology by 56.8% in the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after acquiring an additional 1,619 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Seagate Technology in the second quarter valued at approximately $150,000. SpiderRock Advisors LLC grew its position in Seagate Technology by 2,419.5% in the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after acquiring an additional 5,347 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $205,000. 91.32% of the stock is owned by institutional investors.

Several research firms recently commented on STX. Citigroup boosted their price objective on shares of Seagate Technology from $34.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 24th. Zacks Investment Research lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Thursday. Mizuho boosted their price objective on shares of Seagate Technology from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. UBS Group boosted their price objective on shares of Seagate Technology from $28.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, October 24th. Finally, Maxim Group reiterated a “hold” rating and issued a $44.00 price objective (up from $43.00) on shares of Seagate Technology in a research report on Tuesday. Four investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Seagate Technology presently has a consensus rating of “Hold” and an average price target of $43.15.

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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.

Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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