Seagate Technology Holdings plc (NASDAQ:STX) Director Sells $72,075.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at $291,567.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Seagate Technology Price Performance

Seagate Technology stock traded up $0.08 during trading hours on Thursday, reaching $100.81. The stock had a trading volume of 1,736,294 shares, compared to its average volume of 2,585,111. The company has a market cap of $21.19 billion, a price-to-earnings ratio of -78.15 and a beta of 1.04. The business’s 50 day moving average price is $101.64 and its 200-day moving average price is $95.63. Seagate Technology Holdings plc has a 52 week low of $62.43 and a 52 week high of $113.57.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The company’s revenue was up 17.8% on a year-over-year basis. On average, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.78%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Institutional Investors Weigh In On Seagate Technology

Large investors have recently bought and sold shares of the company. Natixis Advisors L.P. raised its stake in Seagate Technology by 112.5% in the 4th quarter. Natixis Advisors L.P. now owns 49,522 shares of the data storage provider’s stock valued at $4,227,000 after purchasing an additional 26,220 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Seagate Technology by 96.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 8,320 shares of the data storage provider’s stock worth $710,000 after purchasing an additional 4,079 shares during the period. M&T Bank Corp grew its holdings in shares of Seagate Technology by 2.9% during the 4th quarter. M&T Bank Corp now owns 10,604 shares of the data storage provider’s stock worth $905,000 after purchasing an additional 301 shares during the period. National Bank of Canada FI boosted its holdings in Seagate Technology by 7.6% during the 4th quarter. National Bank of Canada FI now owns 45,840 shares of the data storage provider’s stock valued at $3,785,000 after acquiring an additional 3,218 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in Seagate Technology by 6.5% during the 4th quarter. Private Advisor Group LLC now owns 17,731 shares of the data storage provider’s stock valued at $1,514,000 after acquiring an additional 1,081 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays boosted their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Bank of America restated a “buy” rating and issued a $110.00 price target on shares of Seagate Technology in a research report on Wednesday, June 5th. Wedbush upped their price target on shares of Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Northland Securities upped their price objective on shares of Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Hold” and an average 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.