Seagate Technology (NASDAQ:STX) Director Yolanda Lee Conyers Sells 750 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of the sale, the director owned 5,601 shares in the company, valued at $1,528,568.91. The trade was a 11.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Seagate Technology Stock Performance

NASDAQ:STX opened at $266.87 on Wednesday. The firm’s fifty day moving average is $246.60 and its two-hundred day moving average is $185.36. The firm has a market cap of $56.99 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 1.17 and a beta of 1.63. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $297.88.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 1.1%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology’s dividend payout ratio is 38.00%.

Analysts Set New Price Targets

Several research firms have recently issued reports on STX. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Evercore ISI upped their price target on Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Sanford C. Bernstein raised their price objective on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Argus boosted their price objective on Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 30th. Finally, Wedbush upped their target price on Seagate Technology from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $285.45.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new stake in shares of Seagate Technology in the second quarter worth approximately $27,000. Rakuten Securities Inc. lifted its holdings in Seagate Technology by 884.2% in the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. MTM Investment Management LLC acquired a new stake in Seagate Technology during the 2nd quarter worth $29,000. First Horizon Corp purchased a new stake in shares of Seagate Technology during the third quarter worth $33,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Seagate Technology during the third quarter worth $33,000. Institutional investors and hedge funds 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.