Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Ted The Technician who wrote (1146)	10/1/1999 7:22:00 PM
From: LK2	Read Replies (1) \| Respond to of 1989

SEG insiders register to sell stock Note--insiders usually, but not always, sell the shares they register for sale on the same day they register for sale, or soon after. So you won't know how many shares they sold until a month or two later. Actually, you won't know even a month or two later the exact sales, because insiders often don't report the actual sales (or maybe the reporting services are sloppy about reporting the actual sales). So the registration of shares for sale is an indication only. Note--also, insider stock sales are a lousy indicator of future price action for most stocks, as a general rule (in my opinion, but I think many readers of this thread will agree with my opinion on the minimal value of insider activity for price action). But for what it's worth, it's not a strong sign of confidence by the insiders that the stock is poised for a strong run when the insiders at a particular company start selling more heavily than they normally do. Also, for what it's worth (in this case, very little), I own SEG stock, and I'm not trying to drive the stock price down. I already have more than I want, and I'm hoping/waiting/praying the ?#$ stock will be higher in January than it is now, so I can dump it. Larry ------------ ============ thomsoninvest.net Bob Gabele's Stock of the Day Oct 1, 1999 Seagate Technology (SEG) Number of Insiders registering to sell stock 5 Number of Shares registered for sale 124,336 Approximate market value of shares registered for sale $3,232,736 For many, a long-term favorite among the disk drive makers, Seagate Technology has been plagued with industry-wide pricing pressure. Though desktop disk drive demand is strong, intense competition is also rampant, leading to uncertainty regarding the industry?s expected recovery. Shares of Seagate have climbed back from their lows, however, they have been somewhat weak this year attributable in part to a number of earnings disappointments. The cautious guidance issued by management in its latest report seems to be echoed by the actions of Seagate insiders. From August 9 to August 23, five insiders filed their intention to sell 124,336 shares at $26-$29. Co-Chairman Lawrence Perlman filed to dispose of 35,571 shares?his first potential sale since ?97. Indeed, Mr. Perlman exhibited excellent timing when he nearly caught the top with his January sales at $45. Co-Chairman Gary Filler, who last sold shares in January ?99 at $44, filed to sell 32,510 shares. This sale would mark his largest since ?92. General Counsel Thomas Mulvaney, who sold shares in January/February ?97 at $49-$50, filed to sell 10,770 shares. Director Kenneth Haughton, who exercised 20,000 options and held on to the underlying in October ?98, filed to sell 20,000 shares. Mr. Haughton also sold shares in February ?97 at $50. Finally, Director Laurel Wilkening, an independent consultant and board member since ?93, filed to sell 25,485 shares. To his benefit, Mr. Wilkening sold shares in January ?97 at $48 and in February of this year at $38. Given that many of these insiders? past sales have preceded a stock price drop, this recent activity could be a sign that they believe the disk drive rally will be short-lived. Seagate designs, manufactures and markets a broad line of rigid magnetic disk drives for use in computer systems and multimedia applications, such as digital video and video-on-demand.