Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) CEO William D. Mosley sold 54,347 shares of Seagate Technology stock in a transaction on Monday, June 9th. The stock was sold at an average price of $130.19, for a total value of $7,075,435.93. Following the sale, the chief executive officer now owns 515,677 shares in the company, valued at $67,135,988.63. The trade was a 9.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Seagate Technology Stock Down 1.2%
Shares of STX traded down $1.50 during trading hours on Wednesday, reaching $126.49. 4,552,603 shares of the company traded hands, compared to its average volume of 3,064,791. Seagate Technology Holdings plc has a 12 month low of $63.19 and a 12 month high of $132.23. The company's fifty day moving average price is $96.55 and its two-hundred day moving average price is $94.76. The company has a market capitalization of $26.84 billion, a price-to-earnings ratio of 23.12 and a beta of 1.40.
Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Seagate Technology's quarterly revenue was up 30.5% on a year-over-year basis. On average, analysts expect that Seagate Technology Holdings plc will post 6.83 EPS for the current year.
Seagate Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's payout ratio is 41.62%.
Seagate Technology announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Wedbush reissued an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a report on Wednesday, May 21st. BNP Paribas Exane upgraded Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a research report on Friday, May 16th. Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Bank of America upped their price objective on Seagate Technology from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Monday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 target price on shares of Seagate Technology in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Seagate Technology has an average rating of "Moderate Buy" and a consensus price target of $119.42.
View Our Latest Analysis on STX
Institutional Trading of Seagate Technology
A number of institutional investors and hedge funds have recently modified their holdings of STX. Ameriflex Group Inc. bought a new position in shares of Seagate Technology during the 4th quarter valued at $26,000. Elequin Capital LP bought a new stake in Seagate Technology during the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC purchased a new stake in Seagate Technology in the 4th quarter worth approximately $27,000. Wayfinding Financial LLC bought a new stake in shares of Seagate Technology during the 1st quarter valued at $31,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after acquiring an additional 440 shares in the last quarter. Institutional investors own 92.87% of the company's stock.
Seagate Technology Company Profile
(
Get Free Report)
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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