Seagate Technology (NASDAQ:STX) Director Sells $204,682.50 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX) Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the transaction, the director directly owned 5,601 shares in the company, valued at $1,528,568.91. The trade was a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Seagate Technology Trading Down 1.2%

NASDAQ STX traded down $3.23 during trading on Tuesday, reaching $266.87. 3,101,032 shares of the company’s stock were exchanged, compared to its average volume of 4,044,940. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $297.88. The company’s fifty day simple moving average is $245.82 and its 200-day simple moving average is $184.24. The firm has a market capitalization of $56.99 billion, a PE ratio of 34.26, a P/E/G ratio of 1.17 and a beta of 1.63.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s dividend payout ratio is 38.00%.

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Seagate Technology by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock worth $2,441,729,000 after acquiring an additional 769,009 shares during the period. JPMorgan Chase & Co. increased its stake in Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock valued at $1,607,321,000 after acquiring an additional 2,161,191 shares during the period. State Street Corp raised its position in Seagate Technology by 3.1% in the third quarter. State Street Corp now owns 9,276,278 shares of the data storage provider’s stock worth $2,196,420,000 after purchasing an additional 274,913 shares in the last quarter. WCM Investment Management LLC bought a new position in Seagate Technology during the third quarter worth about $1,187,621,000. Finally, Geode Capital Management LLC boosted its holdings in Seagate Technology by 1.9% during the second quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock valued at $656,066,000 after purchasing an additional 85,660 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STX. UBS Group dropped their target price on Seagate Technology from $235.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Loop Capital lifted their price objective on shares of Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Barclays increased their target price on shares of Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Sanford C. Bernstein boosted their price target on Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Benchmark upped their price target on Seagate Technology from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $285.45.

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.