Seagate Technology PLC (NASDAQ:STX) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 26,959,620 shares, an increase of 14.3% from the April 28th total of 23,587,727 shares. Based on an average daily trading volume, of 4,691,982 shares, the short-interest ratio is currently 5.7 days. Currently, 9.2% of the company’s shares are sold short.

Shares of Seagate Technology PLC (NASDAQ:STX) opened at 43.11 on Friday. Seagate Technology PLC has a 52-week low of $20.77 and a 52-week high of $50.96. The stock has a market capitalization of $12.79 billion, a P/E ratio of 17.74 and a beta of 1.93. The firm has a 50-day moving average price of $44.81 and a 200-day moving average price of $42.95.

Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings results on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.04. The firm had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Seagate Technology PLC had a return on equity of 62.25% and a net margin of 4.69%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS. On average, analysts predict that Seagate Technology PLC will post $4.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 19th. This represents a $2.52 annualized dividend and a dividend yield of 5.85%. Seagate Technology PLC’s dividend payout ratio (DPR) is 147.37%.

In related news, Director Chong Sup Park sold 3,809 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $43.63, for a total transaction of $166,186.67. Following the completion of the sale, the director now owns 11,753 shares of the company’s stock, valued at $512,783.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark Re sold 9,607 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $43.47, for a total value of $417,616.29. Following the sale, the senior vice president now directly owns 40,470 shares of the company’s stock, valued at approximately $1,759,230.90. The disclosure for this sale can be found here. In the last three months, insiders sold 113,416 shares of company stock valued at $5,583,803. Insiders own 1.50% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Cleararc Capital Inc. raised its stake in Seagate Technology PLC by 0.7% in the first quarter. Cleararc Capital Inc. now owns 7,195 shares of the data storage provider’s stock valued at $330,000 after buying an additional 51 shares during the period. Allianz Asset Management AG raised its stake in Seagate Technology PLC by 0.6% in the fourth quarter. Allianz Asset Management AG now owns 17,326 shares of the data storage provider’s stock valued at $661,000 after buying an additional 100 shares during the period. Cornerstone Investment Partners LLC raised its stake in Seagate Technology PLC by 0.3% in the first quarter. Cornerstone Investment Partners LLC now owns 39,580 shares of the data storage provider’s stock valued at $1,818,000 after buying an additional 110 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Seagate Technology PLC by 1.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,766 shares of the data storage provider’s stock valued at $333,000 after buying an additional 115 shares during the period. Finally, Dumont & Blake Investment Advisors LLC raised its stake in Seagate Technology PLC by 0.7% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 16,163 shares of the data storage provider’s stock valued at $742,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 90.47% of the company’s stock.

STX has been the subject of several recent analyst reports. Vetr raised Seagate Technology PLC from a “buy” rating to a “strong-buy” rating and set a $50.83 target price for the company in a research note on Tuesday, March 21st. Jefferies Group LLC decreased their target price on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Cowen and Company reaffirmed a “market perform” rating and set a $45.00 target price (down previously from $46.00) on shares of Seagate Technology PLC in a research note on Wednesday, April 26th. Longbow Research raised Seagate Technology PLC from a “neutral” rating to a “buy” rating and raised their target price for the stock from $18.42 to $55.00 in a research note on Tuesday, April 11th. Finally, Susquehanna Bancshares Inc reaffirmed a “neutral” rating on shares of Seagate Technology PLC in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Seagate Technology PLC currently has a consensus rating of “Hold” and an average target price of $42.38.

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Seagate Technology PLC Company Profile

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

12 Month Chart for NASDAQ:STX

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