Seagate Technology PLC (STX) EVP Sells $953,064.00 in Stock

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Seagate Technology PLC (NASDAQ:STX) EVP James J. Murphy sold 20,832 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $45.75, for a total transaction of $953,064.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NASDAQ STX opened at $45.89 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 2.24. The company has a market capitalization of $12.99 billion, a PE ratio of 8.33, a P/E/G ratio of 0.79 and a beta of 1.61. Seagate Technology PLC has a 52-week low of $35.38 and a 52-week high of $62.70.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Monday, February 4th. The data storage provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.71 billion. Seagate Technology had a net margin of 14.77% and a return on equity of 105.74%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. Sell-side analysts predict that Seagate Technology PLC will post 4.66 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Tuesday, March 19th. Seagate Technology’s payout ratio is presently 45.74%.

STX has been the subject of a number of analyst reports. Zacks Investment Research reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Friday, November 16th. Royal Bank of Canada reaffirmed a “hold” rating and set a $42.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 2nd. Mizuho reaffirmed a “neutral” rating on shares of Seagate Technology in a research note on Tuesday, February 5th. ValuEngine lowered shares of Seagate Technology from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 17th. Finally, Wells Fargo & Co reduced their price objective on shares of Seagate Technology from $50.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, February 5th. Six equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.01.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TIAA CREF Investment Management LLC raised its position in Seagate Technology by 4.6% during the third quarter. TIAA CREF Investment Management LLC now owns 6,800 shares of the data storage provider’s stock valued at $322,000 after acquiring an additional 298 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in Seagate Technology by 0.6% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 52,100 shares of the data storage provider’s stock valued at $2,011,000 after acquiring an additional 300 shares in the last quarter. Certified Advisory Corp raised its position in Seagate Technology by 17.5% during the fourth quarter. Certified Advisory Corp now owns 2,028 shares of the data storage provider’s stock valued at $78,000 after acquiring an additional 302 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Seagate Technology by 1.1% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 36,971 shares of the data storage provider’s stock valued at $1,427,000 after acquiring an additional 400 shares in the last quarter. Finally, Cigna Investments Inc. New raised its position in Seagate Technology by 7.9% during the fourth quarter. Cigna Investments Inc. New now owns 5,475 shares of the data storage provider’s stock valued at $211,000 after acquiring an additional 400 shares in the last quarter. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

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Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

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