Insider Selling: Seagate Director Unloads 4,000 Shares of Stock (STX)
Seagate (NYSE:STX) Director Jay L. Geldmacher sold 4,000 shares of the stock on the open market in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $49.76, for a total transaction of $199,040.00. Following the completion of the sale, the director now directly owns 9,798 shares of the company’s stock, valued at approximately $487,548. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Seagate (NYSE:STX) traded up 0.16% during mid-day trading on Thursday, hitting $49.19. The stock had a trading volume of 3,545,460 shares. 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 $56.47 and its 200-day moving average is $47.65. The company has a market cap of $16.171 billion and a P/E ratio of 11.05.
Seagate (NYSE:STX) last announced its earnings results on Monday, January 27th. The company reported $1.32 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Seagate will post $5.10 earnings per share 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 3.50%. The ex-dividend date is Thursday, February 6th.
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, January 28th. 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, January 28th. 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 assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $57.89.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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