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.

A number of analysts recently weighed in on STX shares. Cowen reaffirmed a “hold” rating and set a $36.00 price target on shares of Seagate Technology in a research report on Friday, October 13th. Jefferies Group set a $29.00 price target on shares of Seagate Technology and gave the stock a “hold” rating in a research report on Sunday, October 15th. FBN Securities reaffirmed a “sector perform” rating and set a $40.00 price target (up from $32.00) on shares of Seagate Technology in a research report on Monday, October 23rd. Mizuho upped their price target on shares of Seagate Technology from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Seagate Technology currently has an average rating of “Hold” and an average target price of $49.76.

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%.

ILLEGAL ACTIVITY NOTICE: This report was first reported by Daily Political and is the property of of Daily Political. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.dailypolitical.com/2018/02/09/seagate-technology-plc-stx-short-interest-down-8-6-in-january.html.

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.

Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.