Seagate Technology PLC (NASDAQ:STX) insider has recently participated in insider trading activity. Director, ZANDER EDWARD J sold 28,200 shares for $897,606 via one transaction Feb 18. Another notable insider trading was done by LUCZO STEPHEN J on Feb 02, who is the Chairman and CEO. The insider acquired 200,000 shares at an average price of $30.17. Moreover, an insider buying of 5,000 shares was carried out by BRACE PHILIP G, President, CSES, on Feb 02. Following the transaction, the insider now owns 14,930 shares in total. Chief Financial Officer & EVP MORTON DAVID H JR sold 3,178 shares for $123,735 through one transaction Nov 04. Following this sale, this insider’s stake in the company comprises 25,505 shares, priced at $844,470.55 as of Thursday.
The stock has experienced a total of 3 insider trades in the past three months. These trades include 1 sell activities and 2 buy trades. Furthermore, over the past 12 months, the stock was traded 92 times by insiders. In 64 of these trades, the insider was a seller while an employee of the company was the buyer in just 28 instances.
Seagate Technology PLC (STX) on February 16, 2016 announced it is shipping the world’s first 2TB, 7mm hard disk drive (HDD) the Seagate Mobile HDD. This ultra-high capacity mobile hard drive is the lightest, fastest and most power efficient 7mm drive in the industry, enabling a richer and more rewarding experience for users without compromising demand for laptops that are slim, light, and powerful.
“In an industry first, our engineers have been able to boost areal density to 1TB per platter in a 2.5-inch form factor, allowing our OEM customers the flexibility to design and build virtually any kind of laptop they can envision, with plenty of storage to boot,” said Matt Rutledge, Seagate’s senior vice president, client storage. “Laptops today must satisfy consumer demand for fast computing and high capacity storage capabilities on one hand, while also offering compelling designs and slim styling on the other. With the introduction of Seagate’s new Mobile HDD, laptop manufacturers no longer need to make tradeoffs between these seemingly competing mandates.”
Weighing just 3.17 oz., the diminutive Mobile HDD is 25 percent lighter than the previous generation of mobile hard drives. A smaller 7mm drive frees up valuable space in a mobile device to accommodate additional designed-in features, such as bigger batteries, more memory and better air circulation.
“The drive’s high capacity, coupled with its ultra-slim, lightweight footprint, empowers our engineers to create truly ground-breaking, innovative system designs,” said JH Pan, director of SYS BG business operation department, ASUS. “The new Seagate Mobile HDD is a true game changer, enabling us to create high-capacity, thin and light laptops consumers crave at mass-market price points they can afford.”
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