Seagate Technology plc (NASDAQ:STX) EVP Ban Seng Teh sold 10,000 shares of Seagate Technology stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $72.78, for a total transaction of $727,800.00. The transaction was disclosed in a filing with the SEC, which is available through this link.
STX stock opened at $73.48 on Tuesday. The company’s 50 day moving average is $65.43 and its 200 day moving average is $56.02. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 11.24 and a beta of 1.22. The company has a current ratio of 1.51, a quick ratio of 1.01 and a debt-to-equity ratio of 2.27. Seagate Technology plc has a 1-year low of $39.02 and a 1-year high of $77.07.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Wednesday, January 20th. The data storage provider reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.16. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.55 billion. Seagate Technology had a net margin of 10.02% and a return on equity of 65.10%. During the same quarter in the prior year, the firm earned $1.35 EPS. As a group, sell-side analysts forecast that Seagate Technology plc will post 4.4 EPS for the current fiscal year.
A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $50.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, January 22nd. The Goldman Sachs Group raised their price target on shares of Seagate Technology from $47.00 to $52.00 and gave the stock a “sell” rating in a research note on Monday, December 14th. Mizuho upped their price objective on Seagate Technology from $54.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, December 28th. Craig Hallum raised their target price on Seagate Technology from $78.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 17th. Finally, Bank of America raised Seagate Technology from an “underperform” rating to a “buy” rating and set a $90.00 price target on the stock in a research report on Thursday, February 18th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $63.57.
Hedge funds and other institutional investors have recently modified their holdings of the business. Lincoln National Corp lifted its holdings in shares of Seagate Technology by 1.8% in the 4th quarter. Lincoln National Corp now owns 8,823 shares of the data storage provider’s stock worth $548,000 after acquiring an additional 152 shares during the last quarter. Csenge Advisory Group boosted its position in Seagate Technology by 4.1% during the fourth quarter. Csenge Advisory Group now owns 4,690 shares of the data storage provider’s stock valued at $292,000 after buying an additional 184 shares during the period. STA Wealth Management LLC grew its stake in shares of Seagate Technology by 4.2% during the fourth quarter. STA Wealth Management LLC now owns 4,766 shares of the data storage provider’s stock valued at $296,000 after buying an additional 192 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of Seagate Technology by 6.4% in the fourth quarter. Westside Investment Management Inc. now owns 3,325 shares of the data storage provider’s stock worth $206,000 after buying an additional 200 shares during the period. Finally, Carmichael Hill & Associates Inc. lifted its stake in shares of Seagate Technology by 33.3% in the 4th quarter. Carmichael Hill & Associates Inc. now owns 800 shares of the data storage provider’s stock valued at $50,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 82.51% of the company’s stock.
About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company offers hard disk and solid state drives, including serial advanced technology attachment, serial attached SCSI, and non-volatile memory express products; solid state hybrid drives; and storage subsystems.
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