Seagate Technology Holdings plc (NASDAQ:STX) EVP Sells $1,112,870.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares in the company, valued at $592,570. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, June 11th, Ban Seng Teh sold 10,742 shares of Seagate Technology stock. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00.
• On Tuesday, May 14th, Ban Seng Teh sold 9,703 shares of Seagate Technology stock. The shares were sold at an average price of $95.00, for a total value of $921,785.00.

Seagate Technology Trading Down 0.3 %

Shares of STX opened at $103.68 on Monday. Seagate Technology Holdings plc has a twelve month low of $57.79 and a twelve month high of $113.57. The firm has a market capitalization of $21.77 billion, a P/E ratio of -80.37 and a beta of 1.02. The firm’s 50-day moving average is $101.31 and its two-hundred day moving average is $93.23.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company earned ($0.29) EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts predict that Seagate Technology Holdings plc will post 6.21 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STX. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Seagate Technology in the 4th quarter valued at about $26,000. CVA Family Office LLC acquired a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Seagate Technology during the 4th quarter worth approximately $28,000. Northwest Financial Advisors acquired a new position in shares of Seagate Technology during the 4th quarter worth approximately $31,000. Finally, Family Firm Inc. purchased a new stake in Seagate Technology in the 2nd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STX. Northland Securities boosted their price objective on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Susquehanna upped their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research report on Wednesday, July 24th. Evercore ISI increased their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Wells Fargo & Company lifted 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. Finally, Wedbush increased their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $115.94.

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.