Seagate Technology PLC (NASDAQ:STX) CFO David H. Morton, Jr. sold 40,263 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $48.78, for a total transaction of $1,964,029.14. Following the transaction, the chief financial officer now owns 65,824 shares in the company, valued at $3,210,894.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Seagate Technology PLC (NASDAQ:STX) traded up $0.68 during midday trading on Thursday, hitting $47.07. 3,808,700 shares of the company’s stock traded hands, compared to its average volume of 7,015,986. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $50.96. The stock has a market capitalization of $13,770.00, a P/E ratio of 17.83, a PEG ratio of 0.57 and a beta of 1.68. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 4.03.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.10. Seagate Technology had a net margin of 7.41% and a return on equity of 84.50%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned $0.99 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. equities research analysts expect that Seagate Technology PLC will post 4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 5.35%. The ex-dividend date was Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 95.45%.

Several research analysts have weighed in on the stock. TheStreet upgraded shares of Seagate Technology from a “c+” rating to a “b-” rating in a research report on Tuesday. Craig Hallum restated a “buy” rating and set a $56.00 target price (up from $50.00) on shares of Seagate Technology in a research report on Tuesday. Wells Fargo & Co restated a “market perform” rating and set a $45.00 target price (up from $38.00) on shares of Seagate Technology in a research report on Tuesday. Maxim Group restated a “hold” rating and set a $44.00 target price (up from $43.00) on shares of Seagate Technology in a research report on Tuesday. Finally, Royal Bank of Canada upped their target price on shares of Seagate Technology to $48.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.15.

Hedge funds and other institutional investors have recently made changes to their positions in the business. WFG Advisors LP lifted its stake in shares of Seagate Technology by 16,536.4% during 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 during the period. Balentine LLC lifted its stake in shares of Seagate Technology by 56.8% during the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock valued at $148,000 after buying an additional 1,619 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Seagate Technology during the second quarter valued at approximately $150,000. SpiderRock Advisors LLC lifted its stake in shares of Seagate Technology by 2,419.5% during the third quarter. SpiderRock Advisors LLC now owns 5,568 shares of the data storage provider’s stock valued at $184,000 after buying an additional 5,347 shares during the period. Finally, New England Research & Management Inc. purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $205,000. 91.32% of the stock is currently owned by institutional investors.

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About Seagate Technology

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.

Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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