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

On June 16 it was reported that the Senior Vice-President Sales of Seagate Tech (STX), B.S. Teh, exercised options to sell 498 STX shares for a total transaction value of $26.29K.

Following B.S. Teh’s last STX Sell transaction on April 15, 2020, the stock climbed by 0.8%.

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Based on Seagate Tech’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $2.72 billion and quarterly net profit of $320 million. In comparison, last year the company earned revenue of $2.31 billion and had a net profit of $195 million. The company has a one-year high of $64.17 and a one-year low of $39.02. STX’s market cap is $13.09 billion and the company has a P/E ratio of 7.80.

Based on 16 analyst ratings, the analyst consensus is Hold with an average price target of $54.53, reflecting a -4.9% downside. STX is a controversial stock, with 6 analysts recommending Buy, while 3 recommends selling the stock. Three different firms, including Goldman Sachs and Barclays, currently also have a Sell rating on the stock.

The insider sentiment on Seagate Tech has been negative according to 205 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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