Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells $1,004,220.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 11,158 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Seagate Technology Trading Up 1.8 %

Seagate Technology stock opened at $91.67 on Friday. The firm has a market capitalization of $19.25 billion, a price-to-earnings ratio of -71.06, a price-to-earnings-growth ratio of 242.66 and a beta of 1.06. The firm’s fifty day moving average price is $89.12 and its two-hundred day moving average price is $84.05. Seagate Technology Holdings plc has a 1-year low of $56.02 and a 1-year high of $101.26.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.43) EPS. On average, research analysts forecast that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research note on Thursday, January 11th. The Goldman Sachs Group lifted their price objective on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. UBS Group upped their target price on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Robert W. Baird lifted their target price on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company increased their price target on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and an average price target of $94.53.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund grew its position in Seagate Technology by 68.8% in the fourth quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock worth $12,212,000 after acquiring an additional 58,300 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after purchasing an additional 1,485,937 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Seagate Technology by 8.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after purchasing an additional 561 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of Seagate Technology by 51.1% during the 3rd quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock valued at $5,717,000 after buying an additional 29,323 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Seagate Technology by 78.4% in the 4th quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock worth $3,292,000 after buying an additional 16,950 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.