Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells $13,882.86 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 141 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $98.46, for a total value of $13,882.86. Following the completion of the sale, the senior vice president now owns 7,757 shares of the company’s stock, valued at approximately $763,754.22. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

John Christopher Morris also recently made the following trade(s):

• On Tuesday, October 22nd, John Christopher Morris sold 1,131 shares of Seagate Technology stock. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90.

Seagate Technology Price Performance

Shares of STX opened at $95.75 on Monday. The business’s 50-day moving average is $102.57 and its 200-day moving average is $102.24. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of 25.00 and a beta of 1.03. Seagate Technology Holdings plc has a fifty-two week low of $79.39 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.34) EPS. Equities research analysts expect that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 3.01%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is 73.11%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its stake in shares of Seagate Technology by 3.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after buying an additional 89 shares in the last quarter. Affinity Capital Advisors LLC grew its position in Seagate Technology by 1.5% in the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after acquiring an additional 100 shares in the last quarter. Forum Financial Management LP increased its stake in shares of Seagate Technology by 4.0% during the 2nd quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock worth $333,000 after purchasing an additional 125 shares during the last quarter. Pinnacle West Asset Management Inc. increased its stake in shares of Seagate Technology by 2.5% during the 2nd quarter. Pinnacle West Asset Management Inc. now owns 5,190 shares of the data storage provider’s stock worth $536,000 after purchasing an additional 125 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of Seagate Technology by 3.6% in the 3rd quarter. Ballentine Partners LLC now owns 3,671 shares of the data storage provider’s stock valued at $402,000 after purchasing an additional 129 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities raised their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Northland Securities upped their price target on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

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.