Seagate Technology PLC (STX) Short Interest Down 8.6% in January
Seagate Technology PLC (NASDAQ:STX) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 32,665,856 shares, a decrease of 8.6% from the January 12th total of 35,738,790 shares. Currently, 11.4% of the company’s stock are short sold. Based on an average daily volume of 5,327,639 shares, the short-interest ratio is currently 6.1 days.
In related news, Director Chong Sup Park sold 4,026 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $54.22, for a total transaction of $218,289.72. Following the completion of the sale, the director now directly owns 8,715 shares of the company’s stock, valued at approximately $472,527.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philip G. Brace sold 12,000 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $46.44, for a total transaction of $557,280.00. Following the sale, the insider now directly owns 27,069 shares of the company’s stock, valued at $1,257,084.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 779,394 shares of company stock valued at $41,495,557. 0.87% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. ValueAct Holdings L.P. raised its stake in Seagate Technology by 55.3% during the third quarter. ValueAct Holdings L.P. now owns 21,458,600 shares of the data storage provider’s stock worth $711,782,000 after acquiring an additional 7,642,835 shares during the period. APG Asset Management N.V. raised its stake in Seagate Technology by 4.2% during the third quarter. APG Asset Management N.V. now owns 3,392,370 shares of the data storage provider’s stock worth $112,525,000 after acquiring an additional 135,300 shares during the period. First Trust Advisors LP raised its stake in Seagate Technology by 28.5% during the third quarter. First Trust Advisors LP now owns 3,044,778 shares of the data storage provider’s stock worth $100,995,000 after acquiring an additional 674,442 shares during the period. Bank of New York Mellon Corp raised its stake in Seagate Technology by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,904,107 shares of the data storage provider’s stock worth $121,509,000 after acquiring an additional 7,989 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its stake in Seagate Technology by 0.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 2,445,795 shares of the data storage provider’s stock worth $94,775,000 after acquiring an additional 7,767 shares during the period. 92.72% of the stock is currently owned by institutional investors and hedge funds.
Seagate Technology (NASDAQ STX) opened at $47.82 on Friday. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.25 and a current ratio of 1.58. Seagate Technology has a 12-month low of $30.60 and a 12-month high of $56.45. The company has a market cap of $13,840.00, a PE ratio of 21.84, a PEG ratio of 0.65 and a beta of 1.88.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.39 by $0.09. Seagate Technology had a net margin of 6.10% and a return on equity of 93.35%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year. research analysts forecast that Seagate Technology will post 4.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 21st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, March 20th. This represents a $2.52 annualized dividend and a dividend yield of 5.27%. Seagate Technology’s payout ratio is 115.07%.
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Seagate Technology 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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