Insider Selling: Seagate Technology PLC (STX) Chairman Sells $4,899,000.00 in Stock

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

Seagate Technology PLC (NASDAQ STX) opened at $51.26 on Friday. The firm has a market cap of $14,830.00, a PE ratio of 19.42, a P/E/G ratio of 0.57 and a beta of 1.68. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $51.88. 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 (NASDAQ:STX) last issued 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 firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. Seagate Technology’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. equities analysts anticipate that Seagate Technology PLC will post 4 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is 95.45%.

Several equities research analysts have weighed in on STX shares. TheStreet raised Seagate Technology from a “c+” rating to a “b-” rating in a research report on Tuesday. ValuEngine upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Craig Hallum upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Monday, October 2nd. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, October 26th. Finally, Vetr cut Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 target price on the stock. in a research report on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $43.39.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bristol Advisors LLC purchased a new position in Seagate Technology in the 4th quarter worth approximately $711,000. Windward Capital Management Co. CA lifted its stake in Seagate Technology by 95.8% in the 4th quarter. Windward Capital Management Co. CA now owns 41,722 shares of the data storage provider’s stock worth $1,746,000 after purchasing an additional 20,409 shares in the last quarter. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $346,000. New England Research & Management Inc. purchased a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $205,000. Finally, Polianta Ltd raised its position in shares of Seagate Technology by 32.6% during the 4th quarter. Polianta Ltd now owns 30,500 shares of the data storage provider’s stock valued at $1,276,000 after buying an additional 7,500 shares during the period. 91.32% of the stock is currently owned by institutional investors and hedge funds.

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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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