Seagate Technology PLC CEO Sells $2,732,467 in Stock (STX)
Seagate Technology PLC (NYSE:STX) CEO Stephen J. Luczo unloaded 54,345 shares of the company’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $50.28, for a total value of $2,732,466.60. Following the completion of the transaction, the chief executive officer now directly owns 141,924 shares in the company, valued at approximately $7,135,939. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Seagate Technology PLC (NYSE:STX) traded down 0.70% on Thursday, hitting $50.89. 3,184,502 shares of the company’s stock traded hands. Seagate Technology PLC has a 52 week low of $37.17 and a 52 week high of $62.76. The stock’s 50-day moving average is $53.64 and its 200-day moving average is $52.51. The company has a market cap of $16.619 billion and a price-to-earnings ratio of 11.42.
Seagate Technology PLC (NYSE:STX) last announced its earnings results on Tuesday, April 29th. The company reported $1.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.25 by $0.09. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the company posted $1.26 earnings per share. Seagate Technology PLC’s revenue was down 3.4% compared to the same quarter last year. Analysts expect that Seagate Technology PLC will post $5.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Monday, May 12th.
STX has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Seagate Technology PLC in a research note on Thursday, May 1st. They now have a $55.00 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Seagate Technology PLC in a research note on Wednesday, April 30th. They now have a $60.00 price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Seagate Technology PLC from $68.00 to $64.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Seagate Technology PLC presently has an average rating of “Buy” and a consensus price target of $57.56.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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