Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) Director Sells 4,100 Shares of Stock

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) Director Jay L. Geldmacher sold 4,100 shares of the company's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $103.30, for a total value of $423,530.00. Following the completion of the transaction, the director now owns 2,852 shares of the company's stock, valued at $294,611.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Seagate Technology Stock Up 0.4 %

Shares of NASDAQ:STX traded up $0.46 during midday trading on Thursday, hitting $103.98. 2,745,764 shares of the stock traded hands, compared to its average volume of 2,518,738. The stock has a market capitalization of $21.83 billion, a PE ratio of -79.67 and a beta of 1.04. Seagate Technology Holdings plc has a one year low of $64.12 and a one year high of $115.32. The business's 50 day moving average is $105.04 and its two-hundred day moving average is $99.55.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The firm's revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.34) earnings per share. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.77%. 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 presently -217.05%.

Analyst Ratings Changes

Several equities analysts recently weighed in on STX shares. Benchmark restated a "hold" rating on shares of Seagate Technology in a research report on Wednesday. StockNews.com upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Susquehanna upped their price target 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. 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. Finally, Robert W. Baird raised their price target on Seagate Technology from $100.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $118.83.

Hedge Funds Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. Quarry LP bought a new stake in Seagate Technology in the second quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock valued at $36,000 after purchasing an additional 337 shares during the last quarter. Family Firm Inc. bought a new position in shares of Seagate Technology during the 2nd quarter valued at $41,000. Larson Financial Group LLC boosted its position in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider's stock worth $49,000 after purchasing an additional 473 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in Seagate Technology during the third quarter valued at approximately $55,000. 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.

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