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

Seagate Technology Holdings plc (NASDAQ:STX) SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Seagate Technology Stock Performance

Shares of STX opened at $99.80 on Wednesday. The company has a market capitalization of $21.11 billion, a PE ratio of 26.06 and a beta of 1.05. Seagate Technology Holdings plc has a 52 week low of $71.67 and a 52 week high of $115.32. The company’s 50 day moving average price is $105.16 and its 200 day moving average price is $101.20.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.34) EPS. On average, equities analysts forecast that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a dividend of $0.72 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 2.89%. Seagate Technology’s dividend payout ratio is 73.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STX. UBS Group raised their price target on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. TD Cowen raised their target price on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Citigroup boosted their price target on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of STX. Bessemer Group Inc. raised its holdings in shares of Seagate Technology by 68.7% in the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock valued at $1,634,000 after purchasing an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Seagate Technology by 2.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after acquiring an additional 6,044 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Seagate Technology by 21.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock valued at $21,677,000 after purchasing an additional 40,649 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in shares of Seagate Technology in the second quarter valued at about $499,000. Finally, Lazard Asset Management LLC boosted its position in Seagate Technology by 6.9% during the first quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock valued at $1,266,000 after acquiring an additional 881 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

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.