Seagate Technology PLC (NASDAQ:STX) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 37,610,748 shares, an increase of 14.6% from the October 14th total of 32,811,026 shares. Approximately 12.7% of the company’s shares are short sold. Based on an average daily trading volume, of 5,062,112 shares, the days-to-cover ratio is presently 7.4 days.

A number of equities research analysts have recently weighed in on the company. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $31.00 price objective (up from $27.00) on shares of Seagate Technology PLC in a research note on Tuesday, August 2nd. Mizuho lifted their price objective on Seagate Technology PLC from $23.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. Argus reaffirmed a “hold” rating on shares of Seagate Technology PLC in a research note on Tuesday, August 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $31.00 price objective (up from $22.00) on shares of Seagate Technology PLC in a research note on Tuesday, August 2nd. Finally, Cowen and Company lifted their price objective on Seagate Technology PLC from $26.00 to $32.00 and gave the company a “market perform” rating in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.77.

In other Seagate Technology PLC news, CFO David H. Morton, Jr. sold 1,716 shares of Seagate Technology PLC stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $36.16, for a total value of $62,050.56. Following the sale, the chief financial officer now owns 20,782 shares in the company, valued at $751,477.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David H. Morton, Jr. sold 2,773 shares of Seagate Technology PLC stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $35.98, for a total value of $99,772.54. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

A number of large investors have recently made changes to their positions in STX. Balentine LLC purchased a new stake in shares of Seagate Technology PLC during the third quarter valued at approximately $110,000. Credit Suisse AG boosted its stake in shares of Seagate Technology PLC by 5.6% in the third quarter. Credit Suisse AG now owns 890,677 shares of the data storage provider’s stock valued at $34,336,000 after buying an additional 47,260 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Seagate Technology PLC by 13.5% in the third quarter. Ameritas Investment Partners Inc. now owns 12,407 shares of the data storage provider’s stock valued at $478,000 after buying an additional 1,472 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Seagate Technology PLC during the third quarter valued at approximately $1,175,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Seagate Technology PLC by 60.2% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 511,200 shares of the data storage provider’s stock valued at $19,707,000 after buying an additional 192,000 shares during the last quarter. 83.44% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology PLC (NASDAQ:STX) opened at 38.51 on Wednesday. The firm’s 50 day moving average price is $35.81 and its 200-day moving average price is $29.87. Seagate Technology PLC has a 52 week low of $18.42 and a 52 week high of $39.33. The stock has a market cap of $11.34 billion, a price-to-earnings ratio of 30.49 and a beta of 1.99.

Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Wednesday, October 19th. The data storage provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.20. Seagate Technology PLC had a return on equity of 49.42% and a net margin of 3.45%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts expect that Seagate Technology PLC will post $3.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 21st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, December 19th. This represents a $2.52 annualized dividend and a yield of 6.54%. Seagate Technology PLC’s payout ratio is 200.00%.

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.

5 Day Chart for NASDAQ:STX

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