Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells $126,558.90 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Seagate Technology Trading Up 0.2 %

Seagate Technology stock traded up $0.23 during trading on Tuesday, reaching $112.64. The company had a trading volume of 3,152,501 shares, compared to its average volume of 2,486,781. Seagate Technology Holdings plc has a 52 week low of $64.12 and a 52 week high of $115.32. The firm’s 50-day simple moving average is $104.63 and its 200 day simple moving average is $99.37. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of 73.14 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.32. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned ($0.34) EPS. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. On average, analysts predict that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently declared 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. This represents a $2.88 dividend on an annualized basis and a yield of 2.56%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is presently 181.82%.

Analysts Set New Price Targets

STX has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Barclays increased their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Evercore ISI increased their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, July 16th. Finally, Susquehanna increased their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.94.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently bought and sold shares of STX. GAMMA Investing LLC increased its stake in Seagate Technology by 37.5% in the 1st quarter. GAMMA Investing LLC now owns 931 shares of the data storage provider’s stock worth $87,000 after buying an additional 254 shares in the last quarter. Park Avenue Securities LLC increased its stake in Seagate Technology by 7.1% in the 1st quarter. Park Avenue Securities LLC now owns 5,590 shares of the data storage provider’s stock worth $520,000 after buying an additional 371 shares in the last quarter. RFG Advisory LLC purchased a new stake in Seagate Technology in the 1st quarter worth $235,000. Sunbelt Securities Inc. increased its stake in Seagate Technology by 269.1% in the 1st quarter. Sunbelt Securities Inc. now owns 753 shares of the data storage provider’s stock worth $70,000 after buying an additional 549 shares in the last quarter. Finally, Viking Fund Management LLC increased its stake in Seagate Technology by 722.2% in the 1st quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock worth $69,000 after buying an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.