Seagate Technology Holdings plc (NASDAQ:STX) CFO Sells $1,245,459.88 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) CFO Gianluca Romano sold 16,982 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $73.34, for a total transaction of $1,245,459.88. Following the sale, the chief financial officer now directly owns 63,391 shares of the company’s stock, valued at approximately $4,649,095.94. The sale was disclosed in a filing with the SEC, which is available at this link.

Seagate Technology Stock Down 1.6 %

Seagate Technology stock opened at $71.13 on Tuesday. The firm has a market cap of $14.88 billion, a PE ratio of -19.92 and a beta of 1.04. Seagate Technology Holdings plc has a 52-week low of $48.94 and a 52-week high of $74.51. The company’s 50 day moving average is $67.20 and its two-hundred day moving average is $63.62.

Seagate Technology (NASDAQ:STX) last released its earnings results on Thursday, October 26th. The data storage provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.51 billion. Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 10.91%. Seagate Technology’s quarterly revenue was down 28.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. On average, equities research analysts anticipate that Seagate Technology Holdings plc will post -0.36 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Thursday, December 21st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Wednesday, December 20th. Seagate Technology’s dividend payout ratio is presently -78.43%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STX. StockNews.com cut shares of Seagate Technology from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Mizuho increased their price target on shares of Seagate Technology from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Evercore ISI dropped their price target on shares of Seagate Technology from $75.00 to $70.00 in a research note on Thursday, October 5th. UBS Group increased their price target on shares of Seagate Technology from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, Morgan Stanley increased their price target on shares of Seagate Technology from $60.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned 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 $65.82.

Institutional Investors Weigh In On Seagate Technology

A number of large investors have recently modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $28,000. Massmutual Trust Co. FSB ADV grew its position in shares of Seagate Technology by 57.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 536 shares of the data storage provider’s stock valued at $33,000 after buying an additional 196 shares during the last quarter. State of Wyoming purchased a new position in shares of Seagate Technology in the 4th quarter valued at $36,000. Barrett & Company Inc. purchased a new position in shares of Seagate Technology in the 1st quarter valued at $41,000. Finally, CENTRAL TRUST Co grew its position in shares of Seagate Technology by 50.0% in the 3rd quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider’s stock valued at $48,000 after buying an additional 300 shares during the last quarter. 85.26% of the stock is owned by hedge funds and other institutional investors.

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.