Investors Buy Large Volume of Put Options on Seagate (STX)
Shares of Seagate (NYSE:STX) was the target of unusually large options trading on Wednesday. Investors acquired 7,654 put options on the company, AnalystRatings.Net reports. This represents an increase of 108% compared to the typical daily volume of 3,684 put options.
A number of analysts have recently weighed in on STX shares. Analysts at Cross Research upgraded shares of Seagate (NYSE:STX) from a “hold” rating to a “buy” rating in a research note to investors on Monday, August 19th. They now have a $50.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Seagate (NYSE:STX) in a research note to investors on Monday, July 29th. They now have a $43.00 price target on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of Seagate (NYSE:STX) from $49.00 to $48.00 in a research note to investors on Thursday, July 25th. They now have a “market perform” rating on the stock.
Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. Seagate currently has an average rating of “Hold” and an average price target of $50.07.
Shares of Seagate (NYSE:STX) traded up 4.95% during mid-day trading on Wednesday, hitting $43.87. 7,279,232 shares of the company’s stock traded hands. Seagate has a 52 week low of $24.90 and a 52 week high of $47.82. The stock has a 50-day moving average of $40.22 and a 200-day moving average of $40.50. The company has a market cap of $15.654 billion and a price-to-earnings ratio of 8.69.
Seagate (NYSE:STX) last released its earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.18 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter in the prior year, the company posted $2.41 earnings per share. The company’s quarterly revenue was down 23.6% on a year-over-year basis. On average, analysts predict that Seagate will post $5.31 earnings per share for the current fiscal year.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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