Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells 141 Shares of Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 141 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $98.46, for a total value of $13,882.86. Following the transaction, the senior vice president now owns 7,757 shares in the company, valued at approximately $763,754.22. This trade represents a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

John Christopher Morris also recently made the following trade(s):

• On Tuesday, October 22nd, John Christopher Morris sold 1,131 shares of Seagate Technology stock. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90.

Seagate Technology Price Performance

Shares of STX opened at $95.75 on Monday. The company has a market capitalization of $20.25 billion, a P/E ratio of 25.00 and a beta of 1.03. Seagate Technology Holdings plc has a one year low of $79.39 and a one year high of $115.32. The business’s 50 day simple moving average is $102.57 and its 200-day simple moving average is $102.24.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. The business’s revenue was up 49.1% on a year-over-year basis. On average, sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a $0.72 dividend. The ex-dividend date is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.01%. Seagate Technology’s payout ratio is currently 73.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities upped their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI lifted their price target on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $118.83.

Hedge Funds Weigh In On Seagate Technology

Large investors have recently modified their holdings of the stock. Sanders Capital LLC raised its position in Seagate Technology by 0.9% in the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after purchasing an additional 150,115 shares during the last quarter. State Street Corp boosted its position in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after buying an additional 541,585 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after buying an additional 318,416 shares during the period. Franklin Resources Inc. raised its position in shares of Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after acquiring an additional 405,232 shares during the last quarter. Finally, Duquesne Family Office LLC lifted its stake in shares of Seagate Technology by 22.0% during the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after acquiring an additional 316,295 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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.