Seagate Technology PLC (NASDAQ:STX) EVP James J. Murphy Sells 123,607 Shares

Seagate Technology PLC (NASDAQ:STX) EVP James J. Murphy sold 123,607 shares of Seagate Technology stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $57.74, for a total value of $7,137,068.18. Following the completion of the transaction, the executive vice president now owns 98,377 shares of the company’s stock, valued at approximately $5,680,287.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

STX stock opened at $58.79 on Friday. The business has a 50 day moving average price of $54.94 and a 200 day moving average price of $49.07. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 10.06 and a beta of 1.63. Seagate Technology PLC has a fifty-two week low of $35.38 and a fifty-two week high of $58.80. The company has a quick ratio of 1.17, a current ratio of 1.58 and a debt-to-equity ratio of 2.34.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Friday, November 1st. The data storage provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.03. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Seagate Technology had a return on equity of 61.26% and a net margin of 17.66%. The firm’s revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.70 earnings per share. As a group, sell-side analysts anticipate that Seagate Technology PLC will post 4.84 EPS for the current year.

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $61.00 price objective on Seagate Technology and gave the company a “buy” rating in a research note on Monday, November 4th. UBS Group lifted their price objective on Seagate Technology from $38.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, November 4th. FBN Securities lifted their price objective on Seagate Technology from $55.00 to $60.00 in a research note on Thursday, September 19th. FinnCap reiterated a “corporate” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, KeyCorp set a $58.00 price objective on Seagate Technology and gave the company a “hold” rating in a research note on Tuesday, September 10th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $49.10.

Hedge funds have recently bought and sold shares of the stock. Covington Capital Management acquired a new position in Seagate Technology during the second quarter worth approximately $26,000. Citizens Financial Group Inc RI acquired a new position in Seagate Technology during the third quarter worth approximately $26,000. AdvisorNet Financial Inc increased its position in Seagate Technology by 1,146.7% during the third quarter. AdvisorNet Financial Inc now owns 561 shares of the data storage provider’s stock worth $30,000 after buying an additional 516 shares during the period. CWM LLC increased its position in Seagate Technology by 61.3% during the second quarter. CWM LLC now owns 789 shares of the data storage provider’s stock worth $37,000 after buying an additional 300 shares during the period. Finally, HM Payson & Co. acquired a new position in Seagate Technology during the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 85.20% 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. 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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