Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris Sells 1,131 Shares

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

Seagate Technology Price Performance

Shares of STX opened at $112.64 on Wednesday. The firm has a market cap of $23.71 billion, a P/E ratio of 73.14 and a beta of 1.04. Seagate Technology Holdings plc has a 1 year low of $64.12 and a 1 year high of $115.32. The stock has a 50 day simple moving average of $104.92 and a two-hundred day simple moving average of $99.52.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.26 by $0.32. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.34) EPS. On average, equities analysts anticipate that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is 181.82%.

Analyst Ratings Changes

Several research analysts have commented on STX shares. Morgan Stanley raised their target price on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. UBS Group increased their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, July 24th. Finally, Barclays increased their price objective on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $115.94.

Hedge Funds Weigh In On Seagate Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Seagate Technology by 37.5% during the 1st quarter. GAMMA Investing LLC now owns 931 shares of the data storage provider’s stock valued at $87,000 after buying an additional 254 shares during the period. Park Avenue Securities LLC increased its holdings in Seagate Technology by 7.1% during the 1st quarter. Park Avenue Securities LLC now owns 5,590 shares of the data storage provider’s stock valued at $520,000 after purchasing an additional 371 shares during the period. RFG Advisory LLC bought a new position in Seagate Technology during the 1st quarter valued at approximately $235,000. Sunbelt Securities Inc. grew its position in shares of Seagate Technology by 269.1% in the 1st quarter. Sunbelt Securities Inc. now owns 753 shares of the data storage provider’s stock worth $70,000 after buying an additional 549 shares during the last quarter. Finally, Viking Fund Management LLC raised its holdings in shares of Seagate Technology by 722.2% during the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock valued at $69,000 after acquiring an additional 650 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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.