Seagate Technology Holdings plc (NASDAQ:STX) EVP Ban Seng Teh Sells 10,117 Shares

Seagate Technology Holdings plc (NASDAQ:STX) EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at $592,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, June 11th, Ban Seng Teh sold 10,742 shares of Seagate Technology stock. The shares were sold at an average price of $100.00, for a total transaction of $1,074,200.00.
• On Tuesday, May 14th, Ban Seng Teh sold 9,703 shares of Seagate Technology stock. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $103.68 on Monday. The firm has a 50 day simple moving average of $101.31 and a 200 day simple moving average of $93.23. Seagate Technology Holdings plc has a fifty-two week low of $57.79 and a fifty-two week high of $113.57. The firm has a market cap of $21.77 billion, a P/E ratio of -80.37 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the business posted ($0.29) EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts expect that Seagate Technology Holdings plc will post 6.21 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. New York State Common Retirement Fund grew its holdings in Seagate Technology by 68.8% during the fourth quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock valued at $12,212,000 after purchasing an additional 58,300 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of Seagate Technology by 8.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after buying an additional 561 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Seagate Technology during the 4th quarter worth $230,000. Bessemer Group Inc. lifted its holdings in Seagate Technology by 68.7% during the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after acquiring an additional 7,150 shares in the last quarter. Finally, Chapin Davis Inc. grew its stake in Seagate Technology by 210.8% in the first quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock valued at $2,713,000 after acquiring an additional 19,773 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Rosenblatt Securities lifted their price target on Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Robert W. Baird boosted their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. UBS Group increased their target price on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald lifted their price target on Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $115.94.

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.