Insider Buying: Seagate Technology PLC (STX) Insider Buys $186,900.00 in Stock

Seagate Technology PLC (NASDAQ:STX) insider Jeffrey D. Nygaard purchased 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was purchased at an average cost of $37.38 per share, for a total transaction of $186,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Seagate Technology PLC (NASDAQ:STX) last announced its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.10. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. Seagate Technology PLC had a return on equity of 84.50% and a net margin of 7.41%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 19th. This represents a $2.52 annualized dividend and a dividend yield of 6.85%. Seagate Technology PLC’s dividend payout ratio is presently 95.09%.

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A number of analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $35.00 price target (down from $42.00) on shares of Seagate Technology PLC in a research note on Wednesday, July 26th. Craig Hallum lowered Seagate Technology PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, July 26th. Citigroup Inc. lifted their price objective on Seagate Technology PLC from $34.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 24th. UBS AG lifted their price objective on Seagate Technology PLC from $28.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, October 24th. Finally, BidaskClub downgraded Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $41.29.

Several institutional investors have recently made changes to their positions in STX. Teachers Advisors LLC grew its stake in shares of Seagate Technology PLC by 3.7% during the first quarter. Teachers Advisors LLC now owns 58,527 shares of the data storage provider’s stock valued at $2,688,000 after acquiring an additional 2,099 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Seagate Technology PLC by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,163,153 shares of the data storage provider’s stock valued at $53,432,000 after acquiring an additional 40,927 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Seagate Technology PLC during the first quarter valued at about $215,000. AQR Capital Management LLC grew its stake in shares of Seagate Technology PLC by 16.0% during the first quarter. AQR Capital Management LLC now owns 321,638 shares of the data storage provider’s stock valued at $14,773,000 after acquiring an additional 44,283 shares in the last quarter. Finally, Private Advisory Group LLC acquired a new stake in shares of Seagate Technology PLC during the first quarter valued at about $206,000. Institutional investors own 90.32% of the company’s stock.

About Seagate Technology PLC

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 PLC (NASDAQ:STX)

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