Insider Selling: Seagate Technology PLC (STX) Chairman Sells 100,000 Shares of Stock

Seagate Technology PLC (NASDAQ:STX) Chairman Stephen J. Luczo sold 100,000 shares of Seagate Technology stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $48.99, for a total transaction of $4,899,000.00. Following the transaction, the chairman now directly owns 95,420 shares of the company’s stock, valued at $4,674,625.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of Seagate Technology PLC (NASDAQ:STX) opened at $47.56 on Thursday. Seagate Technology PLC has a 1 year low of $30.60 and a 1 year high of $50.96. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The company has a market cap of $13,770.00, a P/E ratio of 18.02, a PEG ratio of 0.57 and a beta of 1.68.

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

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 5.30%. The ex-dividend date was Tuesday, December 19th. Seagate Technology’s dividend payout ratio is 95.45%.

A number of equities analysts have weighed in on STX shares. TheStreet raised shares of Seagate Technology from a “c+” rating to a “b-” rating in a research note on Tuesday. ValuEngine raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Craig Hallum raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Thursday, October 26th. Finally, Vetr downgraded shares of Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 target price for the company. in a research note on Tuesday, October 31st. 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’s stock. The company currently has an average rating of “Hold” and an average price target of $43.15.

Several large investors have recently modified their holdings of the company. ValueAct Holdings L.P. grew its holdings in Seagate Technology by 55.3% during the third quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock valued at $711,782,000 after purchasing an additional 7,642,835 shares during the period. Janus Henderson Group PLC grew its holdings in Seagate Technology by 7,384.8% during the second quarter. Janus Henderson Group PLC now owns 2,700,947 shares of the data storage provider’s stock valued at $104,662,000 after purchasing an additional 2,664,861 shares during the period. Vanguard Group Inc. grew its holdings in Seagate Technology by 7.4% during the second quarter. Vanguard Group Inc. now owns 33,412,003 shares of the data storage provider’s stock valued at $1,294,716,000 after purchasing an additional 2,292,075 shares during the period. Bank of New York Mellon Corp grew its holdings in Seagate Technology by 39.4% during the third quarter. Bank of New York Mellon Corp now owns 2,896,118 shares of the data storage provider’s stock valued at $96,064,000 after purchasing an additional 817,861 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Seagate Technology by 74.4% during the second quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock valued at $63,947,000 after purchasing an additional 703,822 shares during the period. Institutional investors own 91.32% of the company’s stock.

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Seagate Technology Company Profile

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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