Traders Buy Large Volume of Seagate Technology Put Options (NASDAQ:STX)

Seagate Technology Holdings plc (NASDAQ:STX) was the target of some unusual options trading on Friday. Investors bought 16,121 put options on the stock. This is an increase of 189% compared to the typical volume of 5,586 put options.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Ameriflex Group Inc. bought a new position in shares of Seagate Technology in the fourth quarter valued at approximately $26,000. Elequin Capital LP bought a new position in Seagate Technology in the 4th quarter worth $27,000. Fourth Dimension Wealth LLC bought a new position in Seagate Technology in the 4th quarter worth $27,000. Advisors Asset Management Inc. lifted its position in Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after acquiring an additional 258 shares during the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 113 shares during the period. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

STX has been the subject of several research analyst reports. Bank of America reduced their price target on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Rosenblatt Securities increased their target price on Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Wednesday, January 22nd. The Goldman Sachs Group reduced their price objective on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, UBS Group lifted their target price on Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $121.00.

Seagate Technology Trading Down 0.1 %

Shares of NASDAQ:STX opened at $88.27 on Friday. The stock has a market capitalization of $18.69 billion, a PE ratio of 16.14 and a beta of 1.01. Seagate Technology has a 1 year low of $82.31 and a 1 year high of $115.32. The firm has a fifty day moving average price of $96.32 and a 200 day moving average price of $98.78.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is 52.65%.

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.