Seagate Technology PLC CEO Unloads $8,851,500 in Stock (STX)
Seagate Technology PLC (NYSE:STX) CEO Stephen J. Luczo unloaded 150,000 shares of Seagate Technology PLC stock on the open market in a transaction dated Thursday, July 24th. The shares were sold at an average price of $59.01, for a total transaction of $8,851,500.00. Following the sale, the chief executive officer now directly owns 198,715 shares in the company, valued at approximately $11,726,172. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Seagate Technology PLC (NYSE:STX) traded down 0.13% during mid-day trading on Friday, hitting $59.50. 1,050,023 shares of the company’s stock traded hands. Seagate Technology PLC has a 1-year low of $37.17 and a 1-year high of $62.76. The stock’s 50-day moving average is $57.63 and its 200-day moving average is $54.39. The company has a market cap of $19.456 billion and a P/E ratio of 13.18.
Seagate Technology PLC (NYSE:STX) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.10 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.09 by $0.01. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the company posted $1.20 earnings per share. Seagate Technology PLC’s revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Seagate Technology PLC will post $5.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Wednesday, August 6th.
A number of research firms have recently commented on STX. Analysts at Zacks reiterated a “neutral” rating on shares of Seagate Technology PLC in a research note on Monday. They now have a $62.00 price target on the stock. Separately, analysts at Craig Hallum upgraded shares of Seagate Technology PLC from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Seagate Technology PLC from $55.00 to $60.00 in a research note on Friday, July 18th. They now have a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Seagate Technology PLC has an average rating of “Buy” and an average target price of $62.33.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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