Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells 9,182 Shares of Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Seagate Technology Trading Down 2.0 %

Shares of STX traded down $2.04 on Tuesday, reaching $99.80. 2,063,812 shares of the company’s stock were exchanged, compared to its average volume of 2,495,773. The stock has a market capitalization of $21.11 billion, a P/E ratio of 26.59 and a beta of 1.05. The business has a 50 day moving average price of $105.06 and a two-hundred day moving average price of $101.00. Seagate Technology Holdings plc has a 12 month low of $71.67 and a 12 month high of $115.32.

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 analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share. Equities research analysts predict that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders 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 2.89%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is 73.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in STX. Forsta AP Fonden boosted its holdings in shares of Seagate Technology by 9.0% in the first quarter. Forsta AP Fonden now owns 44,700 shares of the data storage provider’s stock valued at $4,159,000 after buying an additional 3,700 shares during the period. Meeder Advisory Services Inc. acquired a new position in Seagate Technology during the first quarter worth $212,000. Headlands Technologies LLC acquired a new position in Seagate Technology during the first quarter worth $194,000. Cozad Asset Management Inc. boosted its holdings in Seagate Technology by 22.8% during the first quarter. Cozad Asset Management Inc. now owns 4,517 shares of the data storage provider’s stock worth $420,000 after purchasing an additional 839 shares during the last quarter. Finally, Patton Fund Management Inc. acquired a new position in Seagate Technology during the first quarter worth $4,981,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley upped their price objective on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Susquehanna raised their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. Evercore ISI raised their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have given 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 a consensus target price of $118.83.

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.