Insider Selling: Stephen J. Luczo Sells 50,000 Shares of Seagate Technology PLC Stock (STX)
Seagate Technology PLC (NYSE:STX) CEO Stephen J. Luczo sold 50,000 shares of Seagate Technology PLC stock on the open market in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $56.60, for a total transaction of $2,830,000.00. Following the completion of the transaction, the chief executive officer now directly owns 177,130 shares of the company’s stock, valued at approximately $10,025,558. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Seagate Technology PLC (NYSE:STX) traded up 0.23% on Friday, hitting $56.97. 2,005,739 shares of the company’s stock traded hands. Seagate Technology PLC has a one year low of $37.17 and a one year high of $62.76. The stock has a 50-day moving average of $58.39 and a 200-day moving average of $54.31. The company has a market cap of $18.629 billion and a price-to-earnings ratio of 12.58.
Seagate Technology PLC (NYSE:STX) last released its earnings data on Thursday, July 17th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts expect that Seagate Technology PLC will post $5.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, August 6th.
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 Monday, July 21st. 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. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Seagate Technology PLC presently has an average rating of “Buy” and an average target price of $63.24.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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