Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells $126,558.90 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $103.98 on Friday. Seagate Technology Holdings plc has a 1-year low of $64.12 and a 1-year high of $115.32. The company has a market capitalization of $21.83 billion, a P/E ratio of -80.60 and a beta of 1.04. The business’s fifty day moving average price is $105.13 and its two-hundred day moving average price is $99.58.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The business 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 30.18%. The company’s revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) earnings per share. On average, research analysts expect that Seagate Technology Holdings plc will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.77%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Seagate Technology during the 2nd quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after buying an additional 337 shares in the last quarter. Family Firm Inc. acquired a new position in Seagate Technology during the second quarter worth about $41,000. Larson Financial Group LLC raised its position in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after acquiring an additional 473 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in Seagate Technology in the third quarter worth about $55,000. Institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their price target on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday. Rosenblatt Securities increased their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna lifted their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley increased their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” 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.