Short Interest in Seagate Technology PLC (STX) Drops By 7.8%
Seagate Technology PLC (NASDAQ:STX) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 18,841,331 shares, a decline of 7.8% from the February 15th total of 20,431,499 shares. Currently, 6.7% of the company’s stock are short sold. Based on an average daily trading volume, of 2,940,212 shares, the short-interest ratio is currently 6.4 days.
Seagate Technology stock opened at $47.19 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $13.31 billion, a PE ratio of 8.56, a PEG ratio of 5.16 and a beta of 1.65. Seagate Technology has a fifty-two week low of $35.38 and a fifty-two week high of $62.70.
Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Monday, February 4th. The data storage provider reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.14. The firm had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.71 billion. Seagate Technology had a return on equity of 105.74% and a net margin of 14.77%. The firm’s revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS. On average, equities research analysts expect that Seagate Technology will post 4.66 EPS for the current year.
A number of analysts have issued reports on STX shares. ValuEngine downgraded Seagate Technology from a “sell” rating to a “strong sell” rating in a report on Thursday, January 17th. Royal Bank of Canada reissued a “hold” rating and issued a $42.00 target price on shares of Seagate Technology in a report on Wednesday, January 2nd. Zacks Investment Research raised Seagate Technology from a “sell” rating to a “hold” rating in a report on Monday, January 7th. UBS Group reduced their target price on Seagate Technology from $41.00 to $34.00 and set a “sell” rating for the company in a report on Tuesday, January 8th. Finally, BidaskClub raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Six equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the company. Seagate Technology has an average rating of “Hold” and a consensus price target of $45.50.
In other Seagate Technology news, Director Holdings L.P. Valueact purchased 725,000 shares of the firm’s stock in a transaction on Friday, February 8th. The stock was bought at an average cost of $44.60 per share, with a total value of $32,335,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stephen J. Luczo sold 50,000 shares of Seagate Technology stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $46.09, for a total value of $2,304,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 3,700,000 shares of company stock valued at $166,497,500 and have sold 120,832 shares valued at $5,541,064. 1.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc raised its stake in Seagate Technology by 1.3% during the 3rd 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. ValueAct Holdings L.P. increased its position in Seagate Technology by 3.4% during the 4th quarter. ValueAct Holdings L.P. now owns 27,295,160 shares of the data storage provider’s stock worth $1,053,320,000 after purchasing an additional 898,595 shares during the period. FMR LLC increased its position in Seagate Technology by 2.6% during the 4th quarter. FMR LLC now owns 23,656,503 shares of the data storage provider’s stock worth $912,904,000 after purchasing an additional 600,068 shares during the period. BlackRock Inc. increased its position in Seagate Technology by 0.7% during the 4th quarter. BlackRock Inc. now owns 19,513,940 shares of the data storage provider’s stock worth $753,044,000 after purchasing an additional 142,543 shares during the period. Finally, Waratah Capital Advisors Ltd. acquired a new position in Seagate Technology during the 4th quarter worth approximately $60,000. 94.39% of the stock is owned by hedge funds and other institutional investors.
Seagate Technology Company Profile
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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