Insider Selling: Seagate Technology Holdings plc (NASDAQ:STX) EVP Sells $921,785.00 in Stock

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 9,703 shares of the company's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the transaction, the executive vice president now owns 15,185 shares in the company, valued at $1,442,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Seagate Technology Trading Up 2.6 %

NASDAQ STX traded up $2.50 on Wednesday, hitting $98.72. 2,872,055 shares of the stock were exchanged, compared to its average volume of 2,740,592. Seagate Technology Holdings plc has a fifty-two week low of $57.06 and a fifty-two week high of $101.26. The company has a 50-day moving average price of $88.90 and a 200-day moving average price of $84.88.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) EPS. As a group, research analysts expect that Seagate Technology Holdings plc will post 0.3 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology's dividend payout ratio (DPR) is presently -217.05%.

Hedge Funds Weigh In On Seagate Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Vanguard Group Inc. lifted its holdings in shares of Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider's stock valued at $2,303,274,000 after purchasing an additional 746,395 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider's stock valued at $1,166,022,000 after buying an additional 1,485,937 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Seagate Technology by 39.3% in the fourth quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider's stock valued at $1,418,413,000 after acquiring an additional 4,685,454 shares during the period. Sanders Capital LLC grew its position in shares of Seagate Technology by 3.0% during the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider's stock worth $1,322,053,000 after acquiring an additional 443,768 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Seagate Technology by 13.1% in the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider's stock valued at $918,664,000 after acquiring an additional 1,612,264 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STX. Morgan Stanley upgraded Seagate Technology from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Citigroup started coverage on shares of Seagate Technology in a research note on Tuesday. They set a "buy" rating and a $110.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Thursday, February 1st. Wedbush upgraded shares of Seagate Technology from a "neutral" rating to an "outperform" rating and set a $100.00 target price for the company in a report on Wednesday, May 1st. Finally, Benchmark restated a "hold" rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, Seagate Technology currently has a consensus rating of "Hold" and a consensus target price of $95.50.

About Seagate Technology

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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