Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) EVP Sells $535,920.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the sale, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. 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 Wednesday, July 24th, Ban Seng Teh sold 10,117 shares of Seagate Technology stock. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00.

Seagate Technology Trading Down 1.8 %

NASDAQ:STX opened at $108.74 on Monday. The firm has a market cap of $22.89 billion, a P/E ratio of -84.29 and a beta of 1.03. The stock has a 50 day moving average of $101.37 and a two-hundred day moving average of $97.06. Seagate Technology Holdings plc has a 12 month low of $63.88 and a 12 month high of $113.57.

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, beating 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 company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm posted ($0.29) EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, research analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.57%. Seagate Technology’s dividend payout ratio is presently -217.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Capital Research Global Investors boosted its position in shares of Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after acquiring an additional 4,685,454 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after buying an additional 746,395 shares during the last quarter. Putnam Investments LLC raised its position in shares of Seagate Technology by 124.3% during the 4th quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock valued at $58,091,000 after buying an additional 377,148 shares during the period. Delta Global Management LP acquired a new position in Seagate Technology in the first quarter valued at approximately $33,478,000. Finally, Point72 Hong Kong Ltd purchased a new position in Seagate Technology in the second quarter worth approximately $35,349,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on STX. Barclays increased their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Morgan Stanley upped their price objective on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Northland Securities lifted their target price on shares of Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Wedbush raised 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.