Seagate Technology Holdings plc (NASDAQ:STX) Director Jay L. Geldmacher Sells 4,100 Shares

Seagate Technology Holdings plc (NASDAQ:STX) Director Jay L. Geldmacher sold 4,100 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $103.30, for a total transaction of $423,530.00. Following the transaction, the director now owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Seagate Technology Stock Performance

Shares of STX stock opened at $103.01 on Friday. The company has a market capitalization of $21.63 billion, a PE ratio of -79.85 and a beta of 1.04. Seagate Technology Holdings plc has a 52-week low of $64.12 and a 52-week high of $115.32. The business’s fifty day moving average is $105.16 and its 200 day moving average is $99.75.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 30.18% and a net margin of 11.34%. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.34) EPS. On average, sell-side analysts forecast that Seagate Technology Holdings plc will post 7.09 EPS 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. Stockholders of record on Sunday, December 15th will be issued a $0.72 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 2.80%. Seagate Technology’s dividend payout ratio is presently -217.05%.

Institutional Trading of Seagate Technology

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after acquiring an additional 746,395 shares during the last quarter. Delta Global Management LP bought a new position in shares of Seagate Technology during the 1st quarter valued at about $33,478,000. Point72 Hong Kong Ltd purchased a new position in shares of Seagate Technology during the 2nd quarter valued at about $35,349,000. Clearbridge Investments LLC lifted its position in Seagate Technology by 14.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after buying an additional 337,464 shares during the last quarter. Finally, Duquesne Family Office LLC boosted its stake in Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after buying an additional 316,295 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STX. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. UBS Group boosted their target price on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Loop Capital upped their price target on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Citigroup boosted their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.