Seagate Technology Holdings plc (NASDAQ:STX) CEO Sells $15,621,871.30 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now owns 668,616 shares in the company, valued at approximately $73,668,110.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Seagate Technology Trading Down 1.8 %

Shares of NASDAQ:STX opened at $108.74 on Friday. The firm’s 50 day moving average is $101.37 and its two-hundred day moving average is $97.02. The firm has a market capitalization of $22.89 billion, a P/E ratio of -84.29 and a beta of 1.03. Seagate Technology Holdings plc has a 52 week low of $63.88 and a 52 week high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business earned ($0.29) EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts predict that Seagate Technology Holdings plc will post 6.72 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.57%. Seagate Technology’s payout ratio is -217.05%.

Wall Street Analyst Weigh In

Several research firms have issued reports on STX. Wedbush lifted their price objective on Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Bank of America reiterated a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a research note on Wednesday, June 5th. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. TD Cowen increased their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird boosted their price objective on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $115.94.

Institutional Trading of Seagate Technology

A number of institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in Seagate Technology during the second quarter worth approximately $3,113,000. Cetera Investment Advisers increased its position in shares of Seagate Technology by 10.9% during the 2nd quarter. Cetera Investment Advisers now owns 61,710 shares of the data storage provider’s stock valued at $6,373,000 after purchasing an additional 6,067 shares during the period. SPC Financial Inc. raised its stake in shares of Seagate Technology by 3.9% in the 2nd quarter. SPC Financial Inc. now owns 5,350 shares of the data storage provider’s stock worth $552,000 after buying an additional 200 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Seagate Technology in the second quarter valued at $1,241,000. Finally, Quarry LP bought a new position in Seagate Technology during the second quarter valued at about $27,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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.