Seagate Technology Holdings plc (STX) To Go Ex-Dividend on June 20th

Seagate Technology Holdings plc (NASDAQ:STX) announced a quarterly dividend on Tuesday, April 23rd, RTT News reports. Stockholders of record on Thursday, June 20th will be given a dividend of 0.70 per share by the data storage provider on Friday, July 5th. This represents a $2.80 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, June 20th.

Seagate Technology has increased its dividend by an average of 2.2% annually over the last three years. Seagate Technology has a dividend payout ratio of 49.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Seagate Technology to earn $4.96 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 56.5%.

Seagate Technology Price Performance

Shares of STX stock opened at $105.98 on Tuesday. Seagate Technology has a 52-week low of $57.32 and a 52-week high of $106.76. The stock has a 50 day moving average price of $92.10 and a 200 day moving average price of $88.75.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business posted ($0.43) earnings per share. Seagate Technology’s revenue was down 11.0% on a year-over-year basis. On average, equities analysts anticipate that Seagate Technology will post 0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the sale, the executive vice president now owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the sale, the senior vice president now owns 12,185 shares in the company, valued at approximately $1,218,378.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the executive vice president now owns 15,185 shares in the company, valued at approximately $1,442,575. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,531 shares of company stock valued at $3,592,946. 0.89% of the stock is owned by company insiders.

Analyst Ratings Changes

STX has been the topic of several research reports. Wedbush upgraded Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective on the stock in a report on Wednesday, May 1st. UBS Group raised their price objective on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Loop Capital raised their price objective on Seagate Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Bank of America restated a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a report on Wednesday, June 5th. Finally, The Goldman Sachs Group raised their price objective on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $98.29.

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.