Stock Traders Purchase Large Volume of Seagate Technology Call Options (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STX) was the target of some unusual options trading on Tuesday. Stock investors purchased 24,601 call options on the stock. This is an increase of approximately 258% compared to the average daily volume of 6,875 call options.

Wall Street Analyst Weigh In

STX has been the topic of a number of research analyst reports. Bank of America reissued a “buy” rating and issued a $110.00 price target on shares of Seagate Technology in a research note on Wednesday, June 5th. Evercore ISI initiated coverage on shares of Seagate Technology in a research note on Tuesday, February 27th. They set an “outperform” rating and a $110.00 target price for the company. Mizuho raised their price target on shares of Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Citigroup began coverage on Seagate Technology in a research note on Tuesday, May 14th. They set a “buy” rating and a $110.00 price objective for the company. Finally, Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $73.00 to $115.00 in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $98.29.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now owns 15,185 shares in the company, valued at approximately $1,442,575. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the transaction, the executive vice president now owns 15,185 shares in the company, valued at $1,442,575. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the sale, the senior vice president now owns 12,185 shares in the company, valued at $1,218,378.15. The disclosure for this sale can be found here. Insiders sold a total of 37,531 shares of company stock valued at $3,592,946 in the last quarter. 0.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently modified their holdings of STX. New York State Common Retirement Fund lifted its holdings in shares of Seagate Technology by 68.8% in the 4th quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock worth $12,212,000 after acquiring an additional 58,300 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after purchasing an additional 1,485,937 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after buying an additional 561 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in shares of Seagate Technology in the fourth quarter valued at $230,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Seagate Technology by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock valued at $11,620,000 after buying an additional 1,419 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Up 0.0 %

Shares of STX stock opened at $105.99 on Wednesday. Seagate Technology has a twelve month low of $57.32 and a twelve month high of $107.91. The company’s 50-day moving average price is $92.43 and its 200-day moving average price is $88.94. The stock has a market cap of $22.26 billion, a price-to-earnings ratio of -82.16 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. As a group, equities research analysts predict that Seagate Technology will post 0.44 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 2.64%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.