Traders Buy High Volume of Seagate Technology PLC Put Options (STX)
Seagate Technology PLC (NASDAQ:STX) was the recipient of some unusual options trading activity on Monday. Stock investors bought 43,801 put options on the stock. This is an increase of 363% compared to the average daily volume of 9,461 put options.
Seagate Technology PLC (STX) opened at 32.34 on Thursday. The company’s 50-day moving average is $40.54 and its 200-day moving average is $43.52. Seagate Technology PLC has a 12 month low of $30.09 and a 12 month high of $50.96. The company has a market cap of $9.59 billion, a P/E ratio of 13.31 and a beta of 1.73.
Seagate Technology PLC (NASDAQ:STX) last posted its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by $0.34. Seagate Technology PLC had a net margin of 6.61% and a return on equity of 79.83%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, equities research analysts expect that Seagate Technology PLC will post $4.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 7.79%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is currently 103.70%.
STX has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Seagate Technology PLC in a research note on Thursday, April 6th. Longbow Research raised shares of Seagate Technology PLC from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.42 to $55.00 in a research note on Tuesday, April 11th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating on shares of Seagate Technology PLC in a research note on Wednesday, April 12th. Cowen and Company reaffirmed a “market perform” rating and set a $45.00 price objective (down from $46.00) on shares of Seagate Technology PLC in a research note on Wednesday, April 26th. Finally, Royal Bank Of Canada lowered their price objective on shares of Seagate Technology PLC from $50.00 to $45.00 and set a “sector perform” rating for the company in a research note on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.12.
In other news, CFO David H. Morton, Jr. sold 3,040 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $43.26, for a total transaction of $131,510.40. Following the completion of the transaction, the chief financial officer now directly owns 9,063 shares of the company’s stock, valued at $392,065.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Mark Re sold 9,607 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $43.47, for a total transaction of $417,616.29. Following the transaction, the senior vice president now directly owns 40,470 shares of the company’s stock, valued at $1,759,230.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,456 shares of company stock valued at $715,313. Insiders own 1.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. boosted its position in Seagate Technology PLC by 12.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,726 shares of the data storage provider’s stock valued at $125,000 after buying an additional 300 shares in the last quarter. First Quadrant L P CA purchased a new position in Seagate Technology PLC during the second quarter valued at about $153,000. Global X Management Co. LLC boosted its position in Seagate Technology PLC by 29.2% in the first quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock valued at $160,000 after buying an additional 789 shares in the last quarter. Ledyard National Bank boosted its position in Seagate Technology PLC by 1,318.3% in the first quarter. Ledyard National Bank now owns 4,255 shares of the data storage provider’s stock valued at $195,000 after buying an additional 3,955 shares in the last quarter. Finally, Sigma Investment Counselors Inc. purchased a new position in Seagate Technology PLC during the first quarter valued at about $201,000. Hedge funds and other institutional investors own 86.75% of the company’s stock.
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About Seagate Technology PLC
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.
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