Seagate Technology Holdings plc (NASDAQ:STX) Director Stephanie Tilenius Sells 2,693 Shares

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) Director Stephanie Tilenius sold 2,693 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $128.04, for a total value of $344,811.72. Following the completion of the transaction, the director now directly owns 12,244 shares of the company's stock, valued at approximately $1,567,721.76. This trade represents a 18.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $0.73 during mid-day trading on Friday, reaching $126.97. 4,374,657 shares of the company traded hands, compared to its average volume of 3,021,177. The company's 50 day moving average price is $92.48 and its 200-day moving average price is $93.96. The firm has a market cap of $26.95 billion, a PE ratio of 23.21 and a beta of 1.32. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $129.95.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The company's revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. On average, research analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.27%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 41.62%.

Seagate Technology declared that its board has authorized a stock buyback plan on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on STX. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. Wedbush reiterated an "outperform" rating and set a $140.00 target price on shares of Seagate Technology in a research note on Wednesday, May 21st. Mizuho lowered their price target on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Morgan Stanley lifted their price objective on Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Citigroup upped their price objective on Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.89.

Institutional Trading of Seagate Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriflex Group Inc. purchased a new position in shares of Seagate Technology during the fourth quarter valued at about $26,000. Elequin Capital LP bought a new position in Seagate Technology during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new position in Seagate Technology during the 4th quarter valued at approximately $27,000. Wayfinding Financial LLC bought a new stake in Seagate Technology in the 1st quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after acquiring an additional 440 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

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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