Seagate Technology PLC to Issue Quarterly Dividend of $0.65 (NASDAQ:STX)

Seagate Technology PLC (NASDAQ:STX) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Wednesday, September 23rd will be given a dividend of 0.65 per share by the data storage provider on Wednesday, October 7th. This represents a $2.60 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Tuesday, September 22nd.

Seagate Technology has increased its dividend payment by an average of 0.8% annually over the last three years and has raised its dividend every year for the last 1 years. Seagate Technology has a payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings.

Seagate Technology stock traded down $0.21 during midday trading on Thursday, reaching $44.10. 79,448 shares of the stock traded hands, compared to its average volume of 2,753,019. The company has a current ratio of 1.49, a quick ratio of 1.08 and a debt-to-equity ratio of 2.28. The firm has a fifty day moving average price of $48.95 and a two-hundred day moving average price of $51.10. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 7.78 and a beta of 1.03. Seagate Technology has a fifty-two week low of $39.02 and a fifty-two week high of $64.17.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $1.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.20. Seagate Technology had a net margin of 9.55% and a return on equity of 68.52%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the prior year, the business posted $0.86 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts anticipate that Seagate Technology will post 5.16 earnings per share for the current year.

STX has been the topic of a number of recent analyst reports. Wells Fargo & Co cut their price target on shares of Seagate Technology from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday. ValuEngine lowered shares of Seagate Technology from a “sell” rating to a “strong sell” rating in a report on Thursday, July 2nd. Royal Bank of Canada cut their price target on shares of Seagate Technology from $60.00 to $54.00 and set a “sector perform” rating on the stock in a report on Thursday, April 23rd. Craig Hallum upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Thursday, April 23rd. Finally, Stifel Nicolaus cut their price target on shares of Seagate Technology from $68.00 to $63.00 and set a “buy” rating on the stock in a report on Wednesday. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $53.26.

In related news, SVP Ban Seng Teh sold 498 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $52.80, for a total transaction of $26,294.40. Following the completion of the transaction, the senior vice president now directly owns 11,197 shares in the company, valued at approximately $591,201.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen J. Luczo sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $50.91, for a total transaction of $254,550.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,493 shares of company stock valued at $1,059,254. Corporate insiders own 1.12% of the company’s stock.

Seagate Technology Company Profile

Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Dividend History for Seagate Technology (NASDAQ:STX)

Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.