Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) EVP Sells 4,872 Shares of Stock

Seagate Technology Holdings plc (NASDAQ:STX) EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares in the company, valued at $1,096,590. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Ban Seng Teh also recently made the following trade(s):

• On Wednesday, July 24th, Ban Seng Teh sold 10,117 shares of Seagate Technology stock. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00.

Seagate Technology Price Performance

NASDAQ:STX traded down $2.02 during trading hours on Friday, reaching $108.74. 1,320,014 shares of the company traded hands, compared to its average volume of 2,544,077. The firm’s 50-day moving average is $101.25 and its 200-day moving average is $96.90. The stock has a market cap of $22.89 billion, a P/E ratio of -83.91 and a beta of 1.03. Seagate Technology Holdings plc has a 1-year low of $63.88 and a 1-year high of $113.57.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) earnings per share. As a group, research analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

Institutional Trading of Seagate Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Seagate Technology in the second quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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 last quarter. Family Firm Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter worth $41,000. ICA Group Wealth Management LLC purchased a new position in shares of Seagate Technology in the 4th quarter worth $47,000. Finally, Richardson Financial Services Inc. acquired a new position in Seagate Technology in the fourth quarter valued at $47,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STX has been the subject of a number of recent research reports. Susquehanna increased their price objective on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Barclays boosted their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. TD Cowen raised their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Mizuho increased their price target on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $115.94.

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.