Seagate Technology Holdings plc (NASDAQ:STX – Get Free Report) SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Seagate Technology Stock Performance
STX opened at $112.64 on Wednesday. The company’s 50-day simple moving average is $104.92 and its two-hundred day simple moving average is $99.52. The stock has a market capitalization of $23.71 billion, a P/E ratio of 73.14 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.
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.32. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year. Research analysts forecast that Seagate Technology Holdings plc will post 7.09 EPS for the current fiscal year.
Seagate Technology Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend 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 presently 181.82%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of STX. Quarry LP purchased a new position in shares of Seagate Technology during the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings 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 worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. purchased a new position in Seagate Technology during the second quarter valued at $41,000. Larson Financial Group LLC grew its holdings in Seagate Technology by 15,766.7% during the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after purchasing an additional 473 shares during the period. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in Seagate Technology in the third quarter worth about $55,000. Institutional investors own 92.87% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Robert W. Baird lifted their price target on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. TD Cowen boosted their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wedbush increased their price target on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley lifted their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $115.94.
Check Out Our Latest Research Report on Seagate Technology
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.
Read More
Receive News & Ratings for Seagate Technology Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Seagate Technology and related companies with MarketBeat.com’s FREE daily email newsletter.