Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris Sells 11,158 Shares of Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale 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 opened at $90.05 on Thursday. Seagate Technology Holdings plc has a 1 year low of $55.11 and a 1 year high of $101.26. The firm has a market cap of $18.91 billion, a price-to-earnings ratio of -69.81, a PEG ratio of 242.66 and a beta of 1.06. The stock’s 50-day moving average is $89.15 and its two-hundred day moving average is $84.00.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. The company’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period last year, the firm earned ($0.43) EPS. As a group, research analysts predict that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Csenge Advisory Group grew its holdings in shares of Seagate Technology by 1.4% during the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after buying an additional 119 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Seagate Technology by 1.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock valued at $786,000 after purchasing an additional 126 shares during the last quarter. Graypoint LLC increased its holdings in shares of Seagate Technology by 4.9% in the first quarter. Graypoint LLC now owns 2,710 shares of the data storage provider’s stock valued at $252,000 after purchasing an additional 127 shares during the period. CWM LLC raised its stake in shares of Seagate Technology by 3.9% during the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock worth $294,000 after purchasing an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Seagate Technology by 0.3% during the first quarter. Retirement Systems of Alabama now owns 43,005 shares of the data storage provider’s stock worth $4,002,000 after purchasing an additional 130 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Rosenblatt Securities boosted their target price on Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price on the stock. in a research note on Thursday, January 11th. Susquehanna lifted their target price on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Finally, Cantor Fitzgerald upped their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $94.53.

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.