Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells $968,701.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Seagate Technology Trading Down 1.5 %

Shares of STX opened at $98.27 on Thursday. Seagate Technology Holdings plc has a twelve month low of $73.20 and a twelve month high of $115.32. The firm has a market capitalization of $20.79 billion, a PE ratio of 25.66 and a beta of 1.05. The stock’s 50 day moving average is $105.11 and its two-hundred day moving average is $101.18.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the business earned ($0.34) earnings per share. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is 73.11%.

Hedge Funds Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC increased its position in Seagate Technology by 4.8% during the third quarter. MetLife Investment Management LLC now owns 50,921 shares of the data storage provider’s stock worth $5,577,000 after buying an additional 2,333 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in Seagate Technology by 86.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 5,999 shares of the data storage provider’s stock valued at $657,000 after buying an additional 2,790 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Seagate Technology by 9.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,450 shares of the data storage provider’s stock worth $487,000 after acquiring an additional 384 shares during the period. Sanders Capital LLC increased its position in Seagate Technology by 0.9% during the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after purchasing an additional 150,115 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Seagate Technology in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on STX shares. Morgan Stanley increased their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Loop Capital lifted their target price on Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Evercore ISI raised their price target on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $118.83.

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.