Seagate Technology PLC (STX) Insider Valueact Capital Master Fund, Buys 124,127 Shares of Stock

Seagate Technology PLC (NASDAQ:STX) insider Valueact Capital Master Fund, bought 124,127 shares of the firm’s stock in a transaction on Friday, November 30th. The shares were bought at an average cost of $41.95 per share, for a total transaction of $5,207,127.65. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Valueact Capital Master Fund, also recently made the following trade(s):

  • On Friday, November 23rd, Valueact Capital Master Fund, bought 371,086 shares of Seagate Technology stock. The shares were bought at an average cost of $41.84 per share, for a total transaction of $15,526,238.24.

STX traded up $0.44 during trading on Friday, reaching $43.09. 4,698,958 shares of the stock traded hands, compared to its average volume of 4,217,292. The company has a current ratio of 1.42, a quick ratio of 1.07 and a debt-to-equity ratio of 2.34. The stock has a market capitalization of $12.21 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 0.65 and a beta of 1.71. Seagate Technology PLC has a 12 month low of $36.69 and a 12 month high of $62.70.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Friday, November 2nd. The data storage provider reported $1.70 EPS for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.15. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Seagate Technology had a net margin of 12.57% and a return on equity of 123.05%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. As a group, research analysts predict that Seagate Technology PLC will post 5.33 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 19th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, December 18th. This represents a $2.52 dividend on an annualized basis and a yield of 5.85%. Seagate Technology’s dividend payout ratio (DPR) is currently 45.74%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Seagate Technology by 1.3% during the third quarter. Vanguard Group Inc. now owns 31,122,744 shares of the data storage provider’s stock valued at $1,473,662,000 after acquiring an additional 400,201 shares during the last quarter. Legal & General Group Plc boosted its position in Seagate Technology by 2.3% during the third quarter. Legal & General Group Plc now owns 1,428,605 shares of the data storage provider’s stock valued at $67,604,000 after acquiring an additional 32,146 shares during the last quarter. Kepos Capital LP acquired a new position in shares of Seagate Technology during the third quarter valued at about $3,872,000. Rehmann Capital Advisory Group raised its holdings in shares of Seagate Technology by 4,634.9% during the third quarter. Rehmann Capital Advisory Group now owns 27,036 shares of the data storage provider’s stock valued at $571,000 after purchasing an additional 26,465 shares during the period. Finally, NorthCoast Asset Management LLC acquired a new position in shares of Seagate Technology during the third quarter valued at about $581,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on the stock. Zacks Investment Research reissued a “hold” rating on shares of Seagate Technology in a research note on Friday, November 16th. Maxim Group reduced their price objective on shares of Seagate Technology from $54.00 to $51.00 and set a “hold” rating on the stock in a research note on Wednesday, November 7th. BidaskClub raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Longbow Research reissued a “hold” rating on shares of Seagate Technology in a research note on Monday, November 12th. Finally, Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Monday, November 5th. Five investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. Seagate Technology currently has an average rating of “Hold” and a consensus price target of $50.91.

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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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Insider Buying and Selling by Quarter for Seagate Technology (NASDAQ:STX)

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