Seagate Technology Holdings plc (NASDAQ:STX) SVP Sells $13,882.86 in Stock

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) SVP John Christopher Morris sold 141 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly 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 this link.

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 NASDAQ STX traded down $1.16 during trading on Friday, hitting $95.75. 4,924,398 shares of the company were exchanged, compared to its average volume of 2,497,944. The firm's fifty day moving average price is $102.57 and its 200 day moving average price is $102.15. The company has a market cap of $20.25 billion, a price-to-earnings ratio of 25.00 and a beta of 1.03. Seagate Technology Holdings plc has a 1 year low of $79.39 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued 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 net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted ($0.34) earnings per share. The firm's revenue for the quarter was up 49.1% compared to the same quarter last year. On average, research analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current 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 issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.01%. 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 is 73.11%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Rosenblatt Securities raised 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. Wedbush reissued an "outperform" rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Benchmark restated a "hold" rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Evercore ISI upped their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.83.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds have recently modified their holdings of STX. Sanders Capital LLC grew its holdings 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 valued at $1,792,742,000 after buying an additional 150,115 shares during the period. State Street Corp grew its holdings in Seagate Technology by 6.8% in the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock valued at $937,081,000 after purchasing an additional 541,585 shares during the period. Geode Capital Management LLC raised its stake in Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock worth $454,477,000 after purchasing an additional 318,416 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Seagate Technology by 29.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock valued at $197,844,000 after purchasing an additional 405,232 shares during the last quarter. Finally, Duquesne Family Office LLC grew its stake in shares of Seagate Technology by 22.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider's stock valued at $181,268,000 after buying an additional 316,295 shares during the period. 92.87% of the stock is 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.

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