Seagate Technology Holdings plc (NASDAQ:STX) EVP Ban Seng Teh Sells 4,872 Shares

Seagate Technology Holdings plc (NASDAQ:STX) EVP Ban Seng Teh sold 4,872 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the sale, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Ban Seng Teh also recently made the following trade(s):

• On Wednesday, July 24th, Ban Seng Teh sold 10,117 shares of Seagate Technology stock. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00.

Seagate Technology Trading Down 1.8 %

Shares of STX opened at $108.74 on Monday. Seagate Technology Holdings plc has a twelve month low of $63.88 and a twelve month high of $113.57. The firm has a market capitalization of $22.89 billion, a P/E ratio of -84.29 and a beta of 1.03. The firm’s 50-day moving average is $101.37 and its two-hundred day moving average is $97.06.

Seagate Technology (NASDAQ:STX) last released 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. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) EPS. 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. Investors of record on Monday, September 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s payout ratio is currently -217.05%.

Analyst Ratings Changes

Several equities analysts have issued reports on STX shares. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price target on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays boosted their price objective on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. UBS Group lifted their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Wedbush upped their price target on shares of Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.94.

Institutional Trading of Seagate Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors lifted its holdings in Seagate Technology by 39.3% in the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after purchasing an additional 4,685,454 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after purchasing an additional 746,395 shares during the period. Putnam Investments LLC increased its position in shares of Seagate Technology by 124.3% in the fourth quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock worth $58,091,000 after acquiring an additional 377,148 shares in the last quarter. Delta Global Management LP acquired a new stake in Seagate Technology in the 1st quarter valued at $33,478,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at about $35,349,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.