The Senior Vice-President Marketing of Seagate Tech is Exercising Options

Yesterday it was reported that the Senior Vice-President Marketing of Seagate Tech (STX), Jeffrey D Fochtman, exercised options to sell 1,239 STX shares for a total transaction value of $58.75K.

Following this transaction Jeffrey D Fochtman’s holding in the company was decreased by 68% to a total of $287.1K. In addition to Jeffrey D Fochtman, 11 other STX executives reported Sell trades in the last month.

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Based on Seagate Tech’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $2.52 billion and quarterly net profit of $166 million. In comparison, last year the company earned revenue of $2.37 billion and had a net profit of $983 million. The company has a one-year high of $64.17 and a one-year low of $39.02. STX’s market cap is $12.74 billion and the company has a P/E ratio of 12.70.

Based on 17 analyst ratings, the analyst consensus is Hold with an average price target of $50.23, reflecting a -3.3% downside.

The insider sentiment on Seagate Tech has been negative according to 214 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Seagate Technology Plc engages 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. It offers its products under the Backup Plus and Expansion product lines, and Maxtor and LaCie brands. The company was founded by Finis Conner, Syed Iftikar, Doug Mahon, David Thomas Mitchell, and Alan F. Shugart in 1978 and is headquartered in Dublin, Ireland.

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