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.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 5.34%. The ex-dividend date is Tuesday, March 19th. Seagate Technology’s dividend payout ratio is presently 45.74%.

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.

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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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