Seagate Technology PLC Sees Unusually Large Options Volume (STX)
Seagate Technology PLC (NASDAQ:STX) was the recipient of unusually large options trading on Friday. Stock investors bought 5,491 put options on the stock. This represents an increase of 165% compared to the typical volume of 2,070 put options.
In other news, insider Philip G. Brace acquired 1,000 shares of Seagate Technology PLC stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the purchase, the insider now owns 62,855 shares in the company, valued at $2,095,585.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of STX. WFG Advisors LP grew its stake in shares of Seagate Technology PLC by 16,536.4% in the second quarter. WFG Advisors LP now owns 3,660 shares of the data storage provider’s stock valued at $142,000 after buying an additional 3,638 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Seagate Technology PLC during the 2nd quarter valued at about $150,000. First Quadrant L P CA acquired a new position in Seagate Technology PLC during the 2nd quarter worth approximately $153,000. Global X Management Co. LLC lifted its position in Seagate Technology PLC by 29.2% during the 1st quarter. Global X Management Co. LLC now owns 3,490 shares of the data storage provider’s stock worth $160,000 after acquiring an additional 789 shares in the last quarter. Finally, Private Advisory Group LLC acquired a new position in Seagate Technology PLC during the 1st quarter worth approximately $206,000. 90.00% of the stock is owned by institutional investors.
Seagate Technology PLC (NASDAQ:STX) opened at 34.05 on Wednesday. The firm’s 50-day moving average is $32.35 and its 200 day moving average is $39.22. The firm has a market cap of $9.80 billion, a PE ratio of 13.20 and a beta of 1.72. Seagate Technology PLC has a 12-month low of $30.60 and a 12-month high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last announced its quarterly 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 7.17% and a return on equity of 81.87%. The company 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 company posted $0.69 earnings per share. The firm’s revenue for the quarter was down 9.3% on a year-over-year basis. Equities research analysts predict that Seagate Technology PLC will post $3.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s dividend payout ratio is presently 97.67%.
Several brokerages have recently weighed in on STX. Craig Hallum cut Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $35.00 price target (down previously from $42.00) on shares of Seagate Technology PLC in a report on Wednesday, July 26th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price target on shares of Seagate Technology PLC in a report on Friday, July 14th. Cowen and Company reduced their price objective on Seagate Technology PLC from $45.00 to $36.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 26th. Finally, ValuEngine upgraded Seagate Technology PLC from a “hold” rating to a “buy” rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $40.79.
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.
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