Seagate Technology Holdings plc (NASDAQ:STX) SVP Katherine Schuelke Sells 3,487 Shares

Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) SVP Katherine Schuelke sold 3,487 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $62.09, for a total transaction of $216,507.83. Following the sale, the senior vice president now directly owns 28,658 shares in the company, valued at $1,779,375.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Seagate Technology Stock Up 3.6 %

Shares of Seagate Technology stock traded up $2.18 on Friday, hitting $62.29. The stock had a trading volume of 3,603,504 shares, compared to its average volume of 2,459,680. Seagate Technology Holdings plc has a one year low of $47.47 and a one year high of $88.25. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of -71.56 and a beta of 1.09. The stock’s 50-day simple moving average is $61.07 and its two-hundred day simple moving average is $59.85.

Seagate Technology (NASDAQ:STX – Get Rating) last issued its earnings results on Thursday, April 20th. The data storage provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.49). Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 1.91%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business posted $1.65 EPS. The firm’s revenue for the quarter was down 33.6% on a year-over-year basis. As a group, equities analysts predict that Seagate Technology Holdings plc will post -0.34 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, June 20th. Seagate Technology’s payout ratio is -333.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STX. Credit Suisse Group lowered their price target on shares of Seagate Technology from $69.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 21st. Barclays lowered their price target on shares of Seagate Technology from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, April 21st. Northland Securities lowered their price target on shares of Seagate Technology from $74.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, April 21st. UBS Group lowered their price target on shares of Seagate Technology from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, April 21st. Finally, Cowen upped their price objective on shares of Seagate Technology from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, January 26th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $66.00.

Institutional Trading of Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Panagora Asset Management Inc. lifted its position in Seagate Technology by 65.3% during the first quarter. Panagora Asset Management Inc. now owns 11,805 shares of the data storage provider’s stock valued at $1,061,000 after buying an additional 4,663 shares during the period. Rhumbline Advisers lifted its position in Seagate Technology by 0.6% during the first quarter. Rhumbline Advisers now owns 182,883 shares of the data storage provider’s stock valued at $16,441,000 after buying an additional 1,037 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Seagate Technology by 4.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,946 shares of the data storage provider’s stock valued at $2,422,000 after buying an additional 1,237 shares during the period. Sei Investments Co. lifted its position in Seagate Technology by 153.5% during the first quarter. Sei Investments Co. now owns 89,250 shares of the data storage provider’s stock valued at $8,059,000 after buying an additional 54,038 shares during the period. Finally, Aviva PLC lifted its position in Seagate Technology by 44.3% during the first quarter. Aviva PLC now owns 95,541 shares of the data storage provider’s stock valued at $8,589,000 after buying an additional 29,329 shares during the period. Hedge funds and other institutional investors own 82.69% of the company’s stock.

About Seagate Technology

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Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.