Traders Buy High Volume of Call Options on Seagate (STX)
Shares of Seagate (NYSE:STX) was the target of some unusual options trading activity on Tuesday. Stock investors acquired 15,548 call options on the company, Analyst Ratings Net reports. This is an increase of approximately 323% compared to the typical volume of 3,680 call options.
A number of analysts have recently weighed in on STX shares. Analysts at Deutsche Bank cut their price target on shares of Seagate from $71.00 to $68.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of Seagate from $63.00 to $58.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Finally, analysts at Zacks upgraded shares of Seagate from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, January 24th. They now have a $73.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Seagate presently has an average rating of “Buy” and a consensus target price of $57.89.
Seagate (NYSE:STX) opened at 51.52 on Wednesday. Seagate has a 1-year low of $30.26 and a 1-year high of $62.76. The stock’s 50-day moving average is $56.30 and its 200-day moving average is $47.44. The company has a market cap of $16.803 billion and a P/E ratio of 12.82.
Seagate (NYSE:STX) last posted its quarterly earnings results on Monday, January 27th. The company reported $1.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.39 by $0.07. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the company posted $1.38 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Analysts expect that Seagate will post $5.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 24th. Stockholders of record on Monday, February 10th will be paid a dividend of 0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, February 6th.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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