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.
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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