Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells $968,701.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP Kian Fatt Chong sold 9,182 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Seagate Technology Stock Performance

Shares of STX stock opened at $97.46 on Friday. Seagate Technology Holdings plc has a fifty-two week low of $74.06 and a fifty-two week high of $115.32. The stock’s fifty day moving average is $105.11 and its two-hundred day moving average is $101.18. The firm has a market capitalization of $20.62 billion, a P/E ratio of 25.45 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm posted ($0.34) earnings per share. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, equities analysts forecast that Seagate Technology Holdings plc will post 7.35 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 73.11%.

Hedge Funds Weigh In On Seagate Technology

Institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. raised its holdings in shares of Seagate Technology by 68.7% during the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after acquiring an additional 7,150 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after purchasing an additional 6,044 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Seagate Technology by 21.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after buying an additional 40,649 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at approximately $2,146,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Seagate Technology in the second quarter valued at approximately $499,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays upped their price objective 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 research report on Thursday, October 17th. UBS Group lifted their price objective on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Evercore ISI raised their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and an average target price of $118.83.

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.