Seagate Technology Holdings plc (NASDAQ:STX) CEO Sells $1,990,600.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX) CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the sale, the chief executive officer now owns 642,497 shares in the company, valued at approximately $63,947,726.41. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Seagate Technology Price Performance

STX opened at $102.98 on Thursday. The stock has a market capitalization of $21.78 billion, a P/E ratio of 26.89 and a beta of 1.05. The company’s 50 day simple moving average is $104.80 and its 200-day simple moving average is $100.64. Seagate Technology Holdings plc has a one year low of $70.31 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company earned ($0.34) EPS. The business’s quarterly revenue was up 49.1% compared to the same quarter last year. As a group, analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.80%. Seagate Technology’s dividend payout ratio is presently 73.11%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of STX. Ashton Thomas Securities LLC acquired a new position in Seagate Technology in the third quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of Seagate Technology during the 2nd quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. bought a new position in shares of Seagate Technology in the 2nd quarter worth $41,000. Finally, JFS Wealth Advisors LLC boosted its position in shares of Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on STX shares. Northland Securities boosted their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Rosenblatt Securities upped their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their target price on Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock 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.