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

Seagate Technology Holdings plc (NASDAQ:STX) CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the transaction, the chief executive officer now owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Seagate Technology Stock Performance

Shares of STX stock traded down $1.24 on Wednesday, hitting $97.56. 3,988,273 shares of the stock traded hands, compared to its average volume of 2,480,629. The firm’s 50-day moving average price is $104.30 and its two-hundred day moving average price is $102.07. Seagate Technology Holdings plc has a twelve month low of $76.87 and a twelve month high of $115.32. The stock has a market capitalization of $20.64 billion, a PE ratio of 25.80 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned ($0.34) EPS. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, equities research analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.95%. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 75.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on STX shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities boosted their price target on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $150.00 target price 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas purchased a new stake in shares of Seagate Technology during the 3rd quarter worth $7,112,000. Franklin Resources Inc. lifted its position in shares of Seagate Technology by 29.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after purchasing an additional 405,232 shares during the last quarter. Synovus Financial Corp lifted its position in shares of Seagate Technology by 36.6% during the 3rd quarter. Synovus Financial Corp now owns 4,054 shares of the data storage provider’s stock worth $444,000 after purchasing an additional 1,087 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Seagate Technology by 21.3% during the 3rd quarter. Tidal Investments LLC now owns 5,441 shares of the data storage provider’s stock worth $596,000 after purchasing an additional 956 shares during the last quarter. Finally, Optimist Retirement Group LLC purchased a new stake in shares of Seagate Technology during the 3rd quarter worth $249,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

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.