Traders Purchase Large Volume of Put Options on Seagate Technology PLC (STX)

Seagate Technology PLC (NASDAQ:STX) was the recipient of unusually large options trading activity on Wednesday. Stock investors acquired 1,048 put options on the company. This represents an increase of approximately 194% compared to the average daily volume of 356 put options.

In related news, Director Chong Sup Park sold 3,809 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $43.63, for a total transaction of $166,186.67. Following the completion of the sale, the director now owns 11,753 shares in the company, valued at approximately $512,783.39. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mark Re sold 9,607 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $43.47, for a total transaction of $417,616.29. Following the sale, the senior vice president now owns 40,470 shares of the company’s stock, valued at approximately $1,759,230.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,456 shares of company stock valued at $5,715,313. 1.50% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Seagate Technology PLC by 3,179.5% in the first quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock worth $842,196,000 after buying an additional 17,777,387 shares in the last quarter. Norges Bank acquired a new position in shares of Seagate Technology PLC during the fourth quarter worth $122,042,000. Prudential Financial Inc. increased its position in shares of Seagate Technology PLC by 355.8% in the first quarter. Prudential Financial Inc. now owns 2,603,387 shares of the data storage provider’s stock worth $119,573,000 after buying an additional 2,032,271 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Seagate Technology PLC by 1,387.8% in the first quarter. Renaissance Technologies LLC now owns 1,292,893 shares of the data storage provider’s stock worth $59,383,000 after buying an additional 1,205,993 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Seagate Technology PLC by 3.8% in the first quarter. Vanguard Group Inc. now owns 31,119,928 shares of the data storage provider’s stock worth $1,429,338,000 after buying an additional 1,132,336 shares in the last quarter. Institutional investors own 87.23% of the company’s stock.

STX has been the subject of several recent analyst reports. Jefferies Group LLC reduced their target price on shares of Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Needham & Company LLC raised their target price on shares of Seagate Technology PLC from $55.00 to $57.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 27th. Royal Bank Of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of Seagate Technology PLC in a research note on Monday, March 13th. Vetr upgraded shares of Seagate Technology PLC from a “hold” rating to a “buy” rating and set a $50.83 target price for the company in a research note on Monday, March 6th. Finally, Zacks Investment Research cut shares of Seagate Technology PLC from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.05.

Shares of Seagate Technology PLC (NASDAQ:STX) opened at 42.67 on Friday. The stock’s 50 day moving average is $42.54 and its 200-day moving average is $43.54. Seagate Technology PLC has a one year low of $20.77 and a one year high of $50.96. The stock has a market capitalization of $12.66 billion, a P/E ratio of 17.56 and a beta of 1.71.

Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.04. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.71 billion. Seagate Technology PLC had a return on equity of 79.83% and a net margin of 6.61%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. On average, equities research analysts expect that Seagate Technology PLC will post $4.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 21st will be issued a $0.63 dividend. The ex-dividend date is Monday, June 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 5.91%. Seagate Technology PLC’s dividend payout ratio is 103.70%.

TRADEMARK VIOLATION NOTICE: “Traders Purchase Large Volume of Put Options on Seagate Technology PLC (STX)” was originally reported by Mideast Time and is the sole property of of Mideast Time. If you are accessing this news story on another website, it was copied illegally and reposted in violation of United States and international trademark & copyright law. The original version of this news story can be read at https://www.mideasttime.com/traders-purchase-large-volume-of-put-options-on-seagate-technology-plc-stx/1806867.html.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:STX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Receive News & Ratings for Seagate Technology PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology PLC and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.