William D. Mosley Sells 20,000 Shares of Seagate Technology Holdings plc (NASDAQ:STX) Stock

Seagate Technology Holdings plc (NASDAQ:STX) CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Seagate Technology Trading Up 1.8 %

Shares of Seagate Technology stock opened at $101.65 on Wednesday. The company has a market cap of $21.50 billion, a PE ratio of 26.54 and a beta of 1.05. The company has a 50 day moving average of $104.73 and a 200-day moving average of $100.62. Seagate Technology Holdings plc has a 1-year low of $70.31 and a 1-year high of $115.32.

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

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a $0.72 dividend. 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 2.83%. Seagate Technology’s dividend payout ratio is presently 75.20%.

Institutional Trading of Seagate Technology

A number of hedge funds have recently added to or reduced their stakes in STX. Ashton Thomas Securities LLC bought a new stake in shares of Seagate Technology during the third quarter worth about $26,000. Quarry LP bought a new stake in Seagate Technology during the 2nd quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC increased its position in 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 acquiring an additional 337 shares during the period. Family Firm Inc. bought a new position in shares of Seagate Technology during the second quarter valued at $41,000. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 232.5% during the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STX. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Rosenblatt Securities upped their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Susquehanna raised their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley upped their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.