William Mosley Sells 20,000 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) CEO William Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Monday, December 1st. The shares were sold at an average price of $271.03, for a total transaction of $5,420,600.00. Following the transaction, the chief executive officer owned 445,668 shares in the company, valued at $120,789,398.04. The trade was a 4.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Seagate Technology Trading Down 3.1%

Shares of NASDAQ STX opened at $258.67 on Thursday. The stock has a fifty day moving average price of $247.30 and a 200 day moving average price of $185.88. The company has a market cap of $55.24 billion, a P/E ratio of 33.21, a P/E/G ratio of 1.06 and a beta of 1.59. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $297.88.

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 given a dividend of $0.74 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 1.1%. Seagate Technology’s dividend payout ratio is presently 36.97%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock valued at $2,441,729,000 after purchasing an additional 769,009 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Seagate Technology by 12.9% during 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 buying an additional 2,161,191 shares in the last quarter. State Street Corp lifted its holdings in Seagate Technology by 3.1% during the 3rd quarter. State Street Corp now owns 9,276,278 shares of the data storage provider’s stock worth $2,196,420,000 after buying an additional 274,913 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Seagate Technology in the 3rd quarter worth approximately $1,187,621,000. Finally, Geode Capital Management LLC grew its position in shares of Seagate Technology by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,567,181 shares of the data storage provider’s stock worth $656,066,000 after acquiring an additional 85,660 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on STX. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Bank of America raised their price target on shares of Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Benchmark upped their price objective on shares of Seagate Technology from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company raised their target price on Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.