Seagate Technology PLC (NASDAQ:STX) Director Sells $2,989,000.00 in Stock

Seagate Technology PLC (NASDAQ:STX) Director Stephen J. Luczo sold 50,000 shares of Seagate Technology stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $59.78, for a total value of $2,989,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Stephen J. Luczo also recently made the following trade(s):

  • On Wednesday, September 11th, Stephen J. Luczo sold 5,000 shares of Seagate Technology stock. The shares were sold at an average price of $55.29, for a total value of $276,450.00.

Seagate Technology stock traded up $0.43 during midday trading on Wednesday, reaching $58.64. 2,125,506 shares of the company’s stock were exchanged, compared to its average volume of 2,945,985. Seagate Technology PLC has a 52 week low of $35.38 and a 52 week high of $60.56. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.17 and a current ratio of 1.58. The firm has a market cap of $15.68 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 10.18 and a beta of 1.62. The stock’s 50-day simple moving average is $57.89 and its 200 day simple moving average is $50.51.

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

Several large investors have recently modified their holdings of the company. Man Group plc boosted its holdings in shares of Seagate Technology by 316.3% during the third quarter. Man Group plc now owns 183,878 shares of the data storage provider’s stock worth $9,891,000 after acquiring an additional 139,710 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Seagate Technology by 143.4% during the third quarter. Squarepoint Ops LLC now owns 130,891 shares of the data storage provider’s stock worth $7,041,000 after acquiring an additional 77,115 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Seagate Technology during the third quarter worth approximately $17,209,000. IHT Wealth Management LLC bought a new stake in shares of Seagate Technology during the third quarter worth approximately $229,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Seagate Technology by 10.0% during the third quarter. Penserra Capital Management LLC now owns 2,304 shares of the data storage provider’s stock worth $123,000 after acquiring an additional 210 shares during the period. Institutional investors own 84.36% of the company’s stock.

A number of analysts recently issued reports on the company. ValuEngine downgraded Seagate Technology from a “hold” rating to a “sell” rating in a research report on Tuesday. FBN Securities lifted their target price on Seagate Technology from $55.00 to $60.00 in a research report on Thursday, September 19th. Mizuho reaffirmed a “hold” rating and issued a $53.00 target price on shares of Seagate Technology in a research report on Friday, November 1st. KeyCorp set a $58.00 target price on Seagate Technology and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Craig Hallum downgraded Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 target price on the stock. in a research report on Friday, September 20th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Seagate Technology presently has a consensus rating of “Hold” and an average price target of $49.62.

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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