Kian Fatt Chong Sells 9,182 Shares of Seagate Technology Holdings plc (NASDAQ:STX) Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Seagate Technology Stock Down 0.8 %

Seagate Technology stock opened at $97.46 on Friday. Seagate Technology Holdings plc has a 12-month low of $74.06 and a 12-month high of $115.32. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 25.45 and a beta of 1.05. The business’s 50-day simple moving average is $105.11 and its 200 day simple 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.96%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 73.11%.

Institutional Trading of Seagate Technology

Several hedge funds have recently bought and sold shares of the stock. Forsta AP Fonden grew its holdings in shares of Seagate Technology by 9.0% during the first quarter. Forsta AP Fonden now owns 44,700 shares of the data storage provider’s stock worth $4,159,000 after buying an additional 3,700 shares in the last quarter. Meeder Advisory Services Inc. bought a new stake in shares of Seagate Technology in the first quarter worth $212,000. Headlands Technologies LLC bought a new position in Seagate Technology in the first quarter valued at $194,000. Cozad Asset Management Inc. increased its stake in Seagate Technology by 22.8% in the 1st quarter. Cozad Asset Management Inc. now owns 4,517 shares of the data storage provider’s stock valued at $420,000 after buying an additional 839 shares during the last quarter. Finally, Patton Fund Management Inc. bought a new stake in Seagate Technology during the 1st quarter worth about $4,981,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STX. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Citigroup boosted their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their target price on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. TD Cowen boosted their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.