Seagate Technology PLC (STX) Insider Philip G. Brace Sells 5,000 Shares
Seagate Technology PLC (NASDAQ:STX) insider Philip G. Brace sold 5,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $48.40, for a total value of $242,000.00. Following the completion of the transaction, the insider now directly owns 16,069 shares in the company, valued at $777,739.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Seagate Technology PLC (NASDAQ:STX) traded up $0.25 during trading on Tuesday, hitting $51.51. The stock had a trading volume of 6,861,000 shares, compared to its average volume of 4,840,000. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03. The firm has a market capitalization of $14,900.00, a P/E ratio of 19.51, a PEG ratio of 0.76 and a beta of 1.68. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $52.33.
Seagate Technology (NASDAQ:STX) last announced its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. sell-side analysts expect that Seagate Technology PLC will post 4.32 earnings per share for the current year.
Several research analysts have commented on the company. Cross Research raised Seagate Technology from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised Seagate Technology from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday. TheStreet raised Seagate Technology from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. Craig Hallum reissued a “buy” rating and issued a $56.00 price objective (up from $50.00) on shares of Seagate Technology in a research report on Tuesday, January 9th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $45.00 price objective (up from $38.00) on shares of Seagate Technology in a research report on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology has a consensus rating of “Hold” and an average price target of $43.39.
A number of large investors have recently bought and sold shares of STX. State Board of Administration of Florida Retirement System grew its stake in Seagate Technology by 32.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 28,982 shares of the data storage provider’s stock worth $1,123,000 after purchasing an additional 7,140 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Seagate Technology in the second quarter worth about $150,000. Franklin Resources Inc. grew its stake in Seagate Technology by 659.7% in the second quarter. Franklin Resources Inc. now owns 167,886 shares of the data storage provider’s stock worth $6,506,000 after purchasing an additional 145,787 shares in the last quarter. Riverhead Capital Management LLC grew its stake in Seagate Technology by 18.1% in the second quarter. Riverhead Capital Management LLC now owns 12,341 shares of the data storage provider’s stock worth $478,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in Seagate Technology by 4.0% in the second quarter. Teachers Advisors LLC now owns 60,852 shares of the data storage provider’s stock worth $2,358,000 after purchasing an additional 2,325 shares in the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.
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About Seagate Technology
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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