William D. Mosley Sells 141,785 Shares of Seagate Technology Holdings plc (NASDAQ:STX) Stock

Seagate Technology Holdings plc (NASDAQ:STX) CEO William D. Mosley sold 141,785 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $73,668,110.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Seagate Technology Trading Down 1.8 %

NASDAQ:STX opened at $108.74 on Friday. The firm has a market cap of $22.89 billion, a price-to-earnings ratio of -84.29 and a beta of 1.03. Seagate Technology Holdings plc has a 12-month low of $63.88 and a 12-month high of $113.57. The company’s 50-day moving average is $101.37 and its two-hundred day moving average is $97.02.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping 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 company 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 posted ($0.29) EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities research analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

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

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Seagate Technology during the 2nd quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the period. Family Firm Inc. acquired a new stake in shares of Seagate Technology in the second quarter worth $41,000. ICA Group Wealth Management LLC purchased a new position in shares of Seagate Technology in the 4th quarter valued at $47,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Seagate Technology during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STX. 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. Wells Fargo & Company increased 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. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Rosenblatt Securities raised their price objective on Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald boosted their target price on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $115.94.

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.