In today’s session Seagate Technology PLC (STX) recorded an unusually high (319) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious STX decrease. With 319 contracts traded and 384 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: STX161021P00038500 closed last at: $1.22 or 30.3% down. About 3.59M shares traded hands. Seagate Technology PLC (NASDAQ:STX) has risen 15.59% since March 1, 2016 and is uptrending. It has outperformed by 6.35% the S&P500.
Analysts await Seagate Technology PLC (NASDAQ:STX) to report earnings on November, 4. They expect $0.75 earnings per share, up 38.89% or $0.21 from last year’s $0.54 per share. STX’s profit will be $224.59 million for 12.72 P/E if the $0.75 EPS becomes a reality. After $0.69 actual earnings per share reported by Seagate Technology PLC for the previous quarter, Wall Street now forecasts 8.70% EPS growth.
Seagate Technology PLC (NASDAQ:STX) Ratings Coverage
Out of 23 analysts covering Seagate Technology Plc (NASDAQ:STX), 6 rate it a “Buy”, 5 “Sell”, while 12 “Hold”. This means 26% are positive. $153 is the highest target while $15 is the lowest. The $38.33 average target is 0.42% above today’s ($38.17) stock price. Seagate Technology Plc has been the topic of 64 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Seagate Technology PLC (NASDAQ:STX) has “Sell” rating given on Thursday, April 14 by Citigroup. Maxim Group downgraded it to “Hold” rating and $45 target price in Monday, November 2 report. UBS maintained it with “Sell” rating and $24 target price in Wednesday, March 23 report. The rating was maintained by Citigroup with “Sell” on Thursday, April 7. The firm has “Sell” rating by Citigroup given on Wednesday, January 27. RBC Capital Markets maintained Seagate Technology PLC (NASDAQ:STX) on Monday, August 3 with “Outperform” rating. The stock of Seagate Technology PLC (NASDAQ:STX) has “Strong Buy” rating given on Monday, August 3 by Needham. The firm has “Buy” rating by Brean Capital given on Monday, August 3. The rating was downgraded by Bank of America to “Underperform” on Friday, April 29. The stock has “Sell” rating given by Benchmark on Thursday, October 15.
Insitutional Activity: The institutional sentiment decreased to 0.98 in 2016 Q2. Its down 0.02, from 1 in 2016Q1. The ratio worsened, as 96 funds sold all Seagate Technology PLC shares owned while 117 reduced positions. 53 funds bought stakes while 155 increased positions. They now own 247.41 million shares or 0.72% less from 249.21 million shares in 2016Q1.
Nomura Inc owns 174,437 shares or 0.01% of their US portfolio. Westpac Corporation has invested 0% of its portfolio in Seagate Technology PLC (NASDAQ:STX). First Midwest Natl Bank Division has 0.03% invested in the company for 10,459 shares. Commonwealth Bancorp Of Australia has invested 0.06% of its portfolio in Seagate Technology PLC (NASDAQ:STX). Clearbridge Investments Ltd Llc holds 0.95% or 32.96 million shares in its portfolio. Moreover, Summit Secs Lc has 0.52% invested in Seagate Technology PLC (NASDAQ:STX) for 39,770 shares. Central Savings Bank And Trust Com accumulated 0% or 281 shares. Moreover, Hanlon Inv Mngmt has 0.6% invested in Seagate Technology PLC (NASDAQ:STX) for 283,306 shares. Kanaly Trust last reported 282 shares in the company. Bb&T Corporation, a North Carolina-based fund reported 38,996 shares. Glenmede Trust Na owns 4,650 shares or 0% of their US portfolio. Proshare Advsr Ltd Limited Liability Company last reported 144,140 shares in the company. Farmers & Merchants Investments Inc holds 0% or 111 shares in its portfolio. Ls Inv Advsrs Ltd Liability has 17,307 shares for 0.03% of their US portfolio. Community State Bank Na accumulated 0% or 265 shares.
Insider Transactions: Since May 3, 2016, the stock had 1 insider purchase, and 8 sales for $2.68 million net activity. RE MARK sold $100,174 worth of stock. 12,919 shares were sold by BIONDI FRANK, worth $245,143. On Wednesday, September 14 MORTON DAVID H JR sold $62,054 worth of the stock or 1,716 shares. On Tuesday, May 3 LUCZO STEPHEN J bought $4.02 million worth of the stock or 200,000 shares.
Seagate Technology public limited company is a well-known provider of electronic data storage technology and solutions. The company has a market cap of $11.43 billion. The Company’s principal products are hard disk drives . It has a 46.41 P/E ratio. 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.
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