Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) Director Sells 750 Shares of Stock

Seagate Technology Holdings plc (NASDAQ:STX) Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Seagate Technology Stock Up 0.1 %

STX stock traded up $0.08 during trading on Thursday, hitting $100.81. The company had a trading volume of 1,736,294 shares, compared to its average volume of 2,585,111. The firm has a 50-day moving average price of $101.64 and a 200-day moving average price of $95.63. Seagate Technology Holdings plc has a 1-year low of $62.43 and a 1-year high of $113.57. The firm has a market cap of $21.19 billion, a PE ratio of -78.15 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.87 billion. During the same quarter in the prior year, the company earned ($0.29) EPS. Seagate Technology’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.78%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Analysts Set New Price Targets

Several analysts have issued reports on STX shares. Mizuho upped their target price on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Evercore ISI upped their target price on Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Morgan Stanley upped their target price on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Citigroup upped their target price on Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital boosted their price objective on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Hold” and a consensus target price of $115.94.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. CWM LLC lifted its stake in Seagate Technology by 3.0% in the second quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after acquiring an additional 97 shares during the last quarter. Csenge Advisory Group increased its holdings in shares of Seagate Technology by 1.4% during the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after buying an additional 119 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of Seagate Technology by 3.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after buying an additional 122 shares in the last quarter. Burney Co. increased its holdings in shares of Seagate Technology by 3.3% during the first quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock worth $367,000 after buying an additional 125 shares in the last quarter. Finally, Forum Financial Management LP increased its holdings in shares of Seagate Technology by 4.0% in the second quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock valued at $333,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.