Seagate Technology Target of Unusually Large Options Trading (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STXGet Rating) was the target of unusually large options trading activity on Tuesday. Investors acquired 22,263 put options on the stock. This represents an increase of 146% compared to the typical daily volume of 9,067 put options.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. raised its stake in shares of Seagate Technology by 65.3% in the 1st quarter. Panagora Asset Management Inc. now owns 11,805 shares of the data storage provider’s stock worth $1,061,000 after buying an additional 4,663 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Seagate Technology by 0.6% during the 1st quarter. Rhumbline Advisers now owns 182,883 shares of the data storage provider’s stock valued at $16,441,000 after purchasing an additional 1,037 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Seagate Technology by 4.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,946 shares of the data storage provider’s stock worth $2,422,000 after purchasing an additional 1,237 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Seagate Technology by 153.5% in the 1st quarter. Sei Investments Co. now owns 89,250 shares of the data storage provider’s stock worth $8,059,000 after purchasing an additional 54,038 shares in the last quarter. Finally, Aviva PLC lifted its stake in Seagate Technology by 44.3% during the first quarter. Aviva PLC now owns 95,541 shares of the data storage provider’s stock valued at $8,589,000 after purchasing an additional 29,329 shares during the last quarter. 82.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on STX shares. StockNews.com assumed coverage on shares of Seagate Technology in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Wedbush dropped their price target on Seagate Technology from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, October 24th. Credit Suisse Group increased their target price on shares of Seagate Technology from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday. Northland Securities decreased their price objective on shares of Seagate Technology from $88.00 to $70.00 in a research note on Thursday, October 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Seagate Technology from $60.00 to $55.00 in a research report on Thursday, October 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.91.

Seagate Technology Stock Performance

NASDAQ:STX traded down $0.60 during midday trading on Tuesday, reaching $62.63. 1,569,793 shares of the company traded hands, compared to its average volume of 2,445,020. Seagate Technology has a twelve month low of $47.47 and a twelve month high of $117.03. The company has a debt-to-equity ratio of 46.44, a current ratio of 1.19 and a quick ratio of 0.68. The company has a fifty day moving average price of $54.14 and a 200 day moving average price of $61.71. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 38.74 and a beta of 1.06.

Seagate Technology (NASDAQ:STXGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The data storage provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.11 billion. Seagate Technology had a return on equity of 716.97% and a net margin of 10.89%. The firm’s revenue was down 34.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.27 EPS. On average, analysts expect that Seagate Technology will post 1.27 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Wednesday, December 21st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $2.80 annualized dividend and a yield of 4.47%. Seagate Technology’s payout ratio is 53.85%.

Seagate Technology Company Profile

(Get Rating)

Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.

Read More

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