Seagate Technology (NASDAQ:STX) EVP Ban Seng Teh Sells 1,412 Shares

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 1,412 shares of the business’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $299.31, for a total value of $422,625.72. Following the transaction, the executive vice president owned 13,693 shares in the company, valued at approximately $4,098,451.83. This represents a 9.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ban Seng Teh also recently made the following trade(s):

• On Wednesday, November 5th, Ban Seng Teh sold 6,000 shares of Seagate Technology stock. The shares were sold at an average price of $270.00, for a total transaction of $1,620,000.00.

Seagate Technology Price Performance

STX traded down $6.16 during trading hours on Wednesday, reaching $312.28. 1,944,654 shares of the stock traded hands, compared to its average volume of 3,700,731. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $332.00. The company has a market cap of $66.69 billion, a price-to-earnings ratio of 40.09, a PEG ratio of 1.26 and a beta of 1.60. The firm’s fifty day simple moving average is $280.60 and its two-hundred day simple moving average is $220.23.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th were issued a dividend of $0.74 per share. The ex-dividend date was Wednesday, December 24th. This represents a $2.96 annualized dividend and a yield of 0.9%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. Seagate Technology’s dividend payout ratio (DPR) is presently 38.00%.

Institutional Investors Weigh In On Seagate Technology

A number of hedge funds have recently made changes to their positions in STX. Integrated Wealth Concepts LLC increased its position in Seagate Technology by 168.0% in the 1st quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after acquiring an additional 4,499 shares during the period. Parallel Advisors LLC raised its stake in shares of Seagate Technology by 39.6% during the second quarter. Parallel Advisors LLC now owns 4,054 shares of the data storage provider’s stock valued at $585,000 after purchasing an additional 1,151 shares in the last quarter. Range Financial Group LLC increased its stake in Seagate Technology by 1.4% during the 2nd quarter. Range Financial Group LLC now owns 32,722 shares of the data storage provider’s stock valued at $4,723,000 after buying an additional 442 shares during the period. Czech National Bank raised its position in shares of Seagate Technology by 6.7% during the 2nd quarter. Czech National Bank now owns 51,873 shares of the data storage provider’s stock worth $7,487,000 after buying an additional 3,248 shares in the last quarter. Finally, Veracity Capital LLC boosted its holdings in shares of Seagate Technology by 5.8% in the second quarter. Veracity Capital LLC now owns 3,760 shares of the data storage provider’s stock valued at $543,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on STX shares. Evercore ISI lifted their price target on shares of Seagate Technology from $160.00 to $330.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Mizuho upped their price objective on Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Loop Capital lifted their target price on Seagate Technology from $350.00 to $465.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Argus boosted their price target on Seagate Technology from $170.00 to $300.00 and gave the company a “strong-buy” rating in a report on Thursday, October 30th. Finally, Benchmark raised their price objective on Seagate Technology from $255.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $293.13.

Seagate Technology Company Profile

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.