Seagate Technology PLC (STX) Insider Valueact Capital Master Fund, Buys 371,086 Shares

Seagate Technology PLC (NASDAQ:STX) insider Valueact Capital Master Fund, purchased 371,086 shares of the business’s stock in a transaction that occurred on Friday, November 23rd. The stock was purchased at an average price of $41.84 per share, for a total transaction of $15,526,238.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

STX stock traded up $0.41 during mid-day trading on Friday, hitting $42.95. 1,419,419 shares of the company were exchanged, compared to its average volume of 5,114,260. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.07 and a current ratio of 1.42. The company has a market capitalization of $12.18 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 0.64 and a beta of 1.71. Seagate Technology PLC has a 1-year low of $36.69 and a 1-year high of $62.70.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Friday, November 2nd. The data storage provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.55 by $0.15. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.95 billion. Seagate Technology had a net margin of 12.57% and a return on equity of 123.05%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS. Analysts forecast that Seagate Technology PLC will post 5.33 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 19th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 18th. This represents a $2.52 annualized dividend and a yield of 5.87%. Seagate Technology’s dividend payout ratio (DPR) is currently 45.74%.

Hedge funds have recently made changes to their positions in the business. WESPAC Advisors SoCal LLC bought a new position in shares of Seagate Technology during the 3rd quarter worth approximately $108,000. Girard Partners LTD. bought a new position in shares of Seagate Technology in the third quarter valued at $108,000. Quad Cities Investment Group LLC bought a new position in shares of Seagate Technology in the second quarter valued at $124,000. Partners Capital Investment Group LLP bought a new position in shares of Seagate Technology in the second quarter valued at $136,000. Finally, First Hawaiian Bank bought a new position in shares of Seagate Technology in the third quarter valued at $139,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.

A number of brokerages recently weighed in on STX. BidaskClub upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, August 7th. Summit Redstone upgraded shares of Seagate Technology to a “hold” rating in a research report on Friday, November 2nd. Longbow Research reiterated a “hold” rating on shares of Seagate Technology in a research report on Monday, November 12th. Maxim Group cut their price target on shares of Seagate Technology from $54.00 to $51.00 and set a “hold” rating on the stock in a research report on Wednesday, November 7th. Finally, BMO Capital Markets downgraded shares of Seagate Technology to a “market perform” rating and set a $45.00 price target on the stock. in a research report on Monday, November 5th. Five research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have given a buy rating to the company’s stock. Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $50.91.

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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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