Investors sold shares of Seagate Technology PLC (NASDAQ:STX) on strength during trading hours on Wednesday following insider selling activity. $31.28 million flowed into the stock on the tick-up and $62.93 million flowed out of the stock on the tick-down, for a money net flow of $31.65 million out of the stock. Of all companies tracked, Seagate Technology had the 0th highest net out-flow for the day. Seagate Technology traded up $0.53 for the day and closed at $53.40Specifically, insider Stephen J. Luczo sold 341,738 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $55.00, for a total transaction of $18,795,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Stephen J. Luczo sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $48.99, for a total value of $4,899,000.00. Following the sale, the chairman now directly owns 95,420 shares of the company’s stock, valued at $4,674,625.80. The disclosure for this sale can be found here. Insiders have sold a total of 774,906 shares of company stock valued at $41,526,491 over the last ninety days. Company insiders own 0.87% of the company’s stock.
STX has been the subject of a number of recent research reports. BidaskClub downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Zacks Investment Research downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. TheStreet raised Seagate Technology from a “c+” rating to a “b-” rating in a research note on Tuesday, January 9th. Vetr raised Seagate Technology from a “buy” rating to a “strong-buy” rating and set a $41.39 price objective on the stock in a research note on Monday, November 6th. Finally, Wells Fargo & Co started coverage on Seagate Technology in a research note on Tuesday, November 14th. They issued a “market perform” rating and a $38.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Seagate Technology presently has a consensus rating of “Hold” and an average target price of $49.92.
The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 4.07. The stock has a market cap of $15,210.00, a PE ratio of 24.38, a P/E/G ratio of 0.71 and a beta of 1.88.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.72%. The ex-dividend date is Tuesday, March 20th. Seagate Technology’s dividend payout ratio is currently 115.07%.
A number of hedge funds and other institutional investors have recently modified their holdings of STX. Avestar Capital LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $100,000. Balentine LLC grew its holdings in shares of Seagate Technology by 56.8% during the 3rd quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after purchasing an additional 1,619 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $174,000. Brave Asset Management Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $203,000. Finally, New England Research & Management Inc. acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $205,000. 89.39% of the stock is currently owned by institutional investors.
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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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