Seagate Technology Holdings plc (NASDAQ:STX) CFO Gianluca Romano Sells 25,760 Shares

Seagate Technology Holdings plc (NASDAQ:STX) CFO Gianluca Romano sold 25,760 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the completion of the sale, the chief financial officer now owns 52,620 shares of the company’s stock, valued at approximately $4,974,694.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Seagate Technology Stock Performance

Shares of STX stock opened at $96.28 on Monday. The stock has a fifty day moving average price of $101.78 and a 200 day moving average price of $94.03. The stock has a market cap of $20.22 billion, a PE ratio of -74.64 and a beta of 1.02. Seagate Technology Holdings plc has a 1 year low of $62.43 and a 1 year high of $113.57.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) 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 business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted ($0.29) EPS. The business’s revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts predict that Seagate Technology Holdings plc will post 6.21 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.91%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC acquired a new position in Seagate Technology in the 4th quarter valued at about $28,000. Northwest Financial Advisors purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $31,000. Family Firm Inc. acquired a new stake in Seagate Technology during the second quarter worth approximately $41,000. Valley National Advisers Inc. grew its stake in Seagate Technology by 39.7% in the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 144 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Seagate Technology in the 4th quarter valued at $44,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on STX shares. Loop Capital increased their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Wedbush raised their price target on Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Cantor Fitzgerald upped their price objective on Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Northland Securities lifted their target price on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Susquehanna upped their price target on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.