Seagate Technology PLC (NASDAQ:STX) EVP Jeffrey D. Nygaard sold 3,916 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $60.03, for a total value of $235,077.48. Following the completion of the sale, the executive vice president now directly owns 27,901 shares of the company’s stock, valued at $1,674,897.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NASDAQ STX opened at $59.48 on Friday. The firm has a market cap of $15.67 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 10.18 and a beta of 1.63. The company has a current ratio of 1.58, a quick ratio of 1.17 and a debt-to-equity ratio of 2.34. Seagate Technology PLC has a 1-year low of $35.38 and a 1-year high of $60.56. The business’s 50 day moving average is $56.37 and its 200-day moving average is $49.78.
Seagate Technology (NASDAQ:STX) last announced its earnings results on Friday, November 1st. The data storage provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.03. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. Seagate Technology had a return on equity of 61.26% and a net margin of 17.66%. The firm’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.70 earnings per share. Analysts forecast that Seagate Technology PLC will post 4.84 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in STX. ValueAct Holdings L.P. raised its stake in Seagate Technology by 6.9% in the second quarter. ValueAct Holdings L.P. now owns 31,554,360 shares of the data storage provider’s stock valued at $1,486,841,000 after purchasing an additional 2,034,200 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Seagate Technology during the third quarter worth about $42,291,000. Morgan Stanley lifted its position in Seagate Technology by 40.4% during the second quarter. Morgan Stanley now owns 2,491,729 shares of the data storage provider’s stock worth $117,410,000 after purchasing an additional 717,007 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in Seagate Technology by 240.5% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 568,264 shares of the data storage provider’s stock worth $30,567,000 after buying an additional 401,361 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its stake in Seagate Technology by 5,423.9% during the second quarter. Virginia Retirement Systems ET AL now owns 370,100 shares of the data storage provider’s stock worth $17,439,000 after buying an additional 363,400 shares in the last quarter. Institutional investors own 84.44% of the company’s stock.
A number of research firms have recently issued reports on STX. FinnCap reaffirmed a “corporate” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. KeyCorp set a $58.00 price objective on Seagate Technology and gave the company a “hold” rating in a research report on Tuesday, September 10th. BidaskClub raised Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Craig Hallum cut Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 price objective for the company. in a research report on Friday, September 20th. Finally, UBS Group raised their price objective on Seagate Technology from $38.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $49.35.
About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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