Ban Seng Teh Sells 1,412 Shares of Seagate Technology (NASDAQ:STX) Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 1,412 shares of Seagate Technology stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $299.31, for a total value of $422,625.72. Following the sale, the executive vice president directly owned 13,693 shares in the company, valued at $4,098,451.83. The trade was a 9.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, November 5th, Ban Seng Teh sold 6,000 shares of Seagate Technology stock. The shares were sold at an average price of $270.00, for a total value of $1,620,000.00.

Seagate Technology Price Performance

NASDAQ:STX opened at $320.32 on Friday. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $332.00. The company has a market cap of $68.41 billion, a PE ratio of 41.12, a P/E/G ratio of 1.22 and a beta of 1.60. The firm’s 50 day simple moving average is $282.16 and its 200 day simple moving average is $221.57.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were paid a $0.74 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, December 24th. Seagate Technology’s payout ratio is presently 38.00%.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Armstrong Advisory Group Inc. acquired a new position in shares of Seagate Technology during the 4th quarter valued at $28,000. First Horizon Corp acquired a new position in shares of Seagate Technology during the third quarter valued at about $33,000. Raiffeisen Bank International AG bought a new position in shares of Seagate Technology during the 3rd quarter worth about $33,000. Physician Wealth Advisors Inc. grew its stake in shares of Seagate Technology by 43.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock valued at $35,000 after buying an additional 45 shares during the period. Finally, Palisade Asset Management LLC bought a new stake in Seagate Technology in the 3rd quarter valued at about $37,000. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. China Renaissance raised their target price on Seagate Technology from $325.00 to $452.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America raised their price objective on Seagate Technology from $275.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Wells Fargo & Company upped their target price on Seagate Technology from $250.00 to $360.00 and gave the company an “equal weight” rating in a report on Thursday. Robert W. Baird increased their target price on shares of Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Rosenblatt Securities boosted their price target on shares of Seagate Technology from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.74.

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.