Seagate Technology (STX) surges on earnings beat

Seagate Technology (STX) recently reported insider trading activity on Nov 09, which was 3 days ago. On November 9, 2009, Fochtman Jeffrey D., the company’s SVP, Business & Marketing, sold 2,293 shares for $98.84. It resulted in a $226,652 profit for the insider. On November 5, Naik Ravi sold 20,000 shares at an average price of $96.36. Following the transaction, the insider now owns 27,052 shares. On November 1, EVP & CIO Naik Ravi sold 323 shares for $91.56 each. The deal was worth $29,549.

  • Seagate Technology (STX) shares hit a 52-week high, Thursday, as the storage technology company added to gains that have come in the wake of its most-recent quarterly results.
  • In late trading, Seagate was up more than 7%, to reach as high as $106.19 a share. Since reporting fiscal first-quarter results on Oct. 22, Seagate shares have risen more than 22%.
  • On Thursday, Seagate said that Steven Luczo is retiring from the company’s board of directors. Luczo is a 28-year Seagate veteran and served two stints as company chief executive, first from 1998 to 2004, and then from 2009 to 2017.
  • In late October, Wells Fargo analyst Aaron Rakers said that Seagate is one of the storage companies likely to see business increase as a result of Facebook’s  new cloud-computing and data-center expansion plans.

Seagate Technology (STX) now has a P/E ratio of approximately 15.37. This is lower than the industry average, which is currently 16.78. Furthermore, its PE ratio compares favorably to the sector’s trailing 12 months PE ratio, which is at 38.33. Seagate Technology Holdings plc’s PE ratio has been between 32.41 and 6.250 during the previous five years. The beta of the stock is 1.09. Aside from these, the trailing price-to-sales (P/S) ratio of 2.01, the price-to-book (PB) ratio of 38.42, and the price-to-cash flow (P/CF) ratio of 59.96 should be taken into account.

The current average estimate for the stock is $85.00 – $135.00, with a median target price of $100.00. Analysts estimate that Seagate Technology Holdings plc (STX) will attain an average price objective of $104.24 based on these projections.