Traders Buy Shares of Seagate Technology (STX) on Weakness

Investors purchased shares of Seagate Technology PLC (NASDAQ:STX) on weakness during trading on Thursday. $38.58 million flowed into the stock on the tick-up and $29.02 million flowed out of the stock on the tick-down, for a money net flow of $9.56 million into the stock. Of all stocks tracked, Seagate Technology had the 25th highest net in-flow for the day. Seagate Technology traded down ($0.99) for the day and closed at $38.73

STX has been the subject of several research reports. BidaskClub cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. ValuEngine downgraded Seagate Technology from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised Seagate Technology from a “sell” rating to a “hold” rating in a report on Monday, October 8th. UBS Group downgraded Seagate Technology to a “neutral” rating in a report on Tuesday, October 23rd. Finally, Susquehanna Bancshares reaffirmed a “negative” rating and set a $32.00 price target (down previously from $53.00) on shares of Seagate Technology in a report on Tuesday, October 23rd. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $49.76.

The company has a quick ratio of 1.07, a current ratio of 1.42 and a debt-to-equity ratio of 2.34. The stock has a market cap of $11.35 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 0.61 and a beta of 1.58.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Friday, November 2nd. The data storage provider reported $1.70 earnings per share (EPS) for the quarter, beating the 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 return on equity of 123.05% and a net margin of 12.57%. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. Equities analysts predict that Seagate Technology PLC will post 5.21 earnings per share for the current year.

The business also recently announced a dividend, which was paid on Monday, December 31st. Shareholders of record on Wednesday, December 19th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, December 18th. Seagate Technology’s dividend payout ratio (DPR) is presently 45.74%.

In other Seagate Technology news, Director Holdings L.P. Valueact acquired 365,671 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was purchased at an average price of $41.84 per share, for a total transaction of $15,299,674.64. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Valueact Capital Master Fund, acquired 371,086 shares of the firm’s stock in a transaction dated Friday, November 23rd. The shares were acquired at an average price of $41.84 per share, with a total value of $15,526,238.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,519,295 shares of company stock worth $62,991,691 in the last ninety days. Insiders own 1.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. WESPAC Advisors SoCal LLC purchased a new position in Seagate Technology in the 3rd quarter worth $108,000. Girard Partners LTD. purchased a new position in Seagate Technology in the 3rd quarter worth $108,000. First Hawaiian Bank purchased a new position in Seagate Technology in the 3rd quarter worth $139,000. SRS Capital Advisors Inc. purchased a new position in Seagate Technology in the 3rd quarter worth $148,000. Finally, TRUE Private Wealth Advisors purchased a new position in Seagate Technology in the 3rd quarter worth $182,000. Hedge funds and other institutional investors own 89.94% of the company’s stock.

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Seagate Technology Company Profile (NASDAQ:STX)

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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