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

by · The Markets Daily

Seagate Technology Holdings plc (NASDAQ:STX – Get Free Report) SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at $804,672.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Seagate Technology Price Performance

NASDAQ STX traded up $0.23 during trading on Tuesday, hitting $112.64. 3,152,501 shares of the company’s stock traded hands, compared to its average volume of 2,486,781. The stock has a fifty day moving average of $104.63 and a two-hundred day moving average of $99.37. Seagate Technology Holdings plc has a 12-month low of $64.12 and a 12-month high of $115.32. The firm has a market cap of $23.71 billion, a P/E ratio of 73.14 and a beta of 1.04.

Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.32. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted ($0.34) earnings per share. The company’s revenue was up 49.1% on a year-over-year basis. As a group, analysts expect that Seagate Technology Holdings plc will post 7.09 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. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.56%. Seagate Technology’s dividend payout ratio is currently 181.82%.

Institutional Trading of Seagate Technology

A number of institutional investors have recently modified their holdings of STX. GAMMA Investing LLC boosted its holdings in shares of Seagate Technology by 37.5% during the first quarter. GAMMA Investing LLC now owns 931 shares of the data storage provider’s stock worth $87,000 after purchasing an additional 254 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Seagate Technology by 7.1% during the first quarter. Park Avenue Securities LLC now owns 5,590 shares of the data storage provider’s stock worth $520,000 after purchasing an additional 371 shares during the period. RFG Advisory LLC bought a new position in Seagate Technology in the first quarter worth about $235,000. Sunbelt Securities Inc. raised its stake in Seagate Technology by 269.1% in the first 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 raised its stake in Seagate Technology by 722.2% in the first 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. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STX. Evercore ISI boosted their target price 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. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Wedbush upped their price target on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Rosenblatt Securities upped their price target on shares of Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Loop Capital upped their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology has an average rating of “Hold” and a consensus target price of $115.94.

Read Our Latest Stock Report on Seagate Technology

Seagate Technology Company Profile

(Get Free Report)

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.

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