Seagate Technology Holdings PLC (NASDAQ:STX) EVP Sells $248,400.00 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 1,725 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $144.00, for a total value of $248,400.00. Following the transaction, the executive vice president directly owned 12,052 shares of the company's stock, valued at $1,735,488. The trade was a 12.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, June 16th, Ban Seng Teh sold 599 shares of Seagate Technology stock. The stock was sold at an average price of $130.00, for a total value of $77,870.00.
• On Monday, June 9th, Ban Seng Teh sold 3,594 shares of Seagate Technology stock. The shares were sold at an average price of $130.00, for a total value of $467,220.00.
• On Wednesday, June 4th, Ban Seng Teh sold 63,418 shares of Seagate Technology stock. The shares were sold at an average price of $125.00, for a total value of $7,927,250.00.
• On Tuesday, June 3rd, Ban Seng Teh sold 11,309 shares of Seagate Technology stock. The shares were sold at an average price of $120.00, for a total value of $1,357,080.00.
• On Tuesday, May 27th, Ban Seng Teh sold 4,201 shares of Seagate Technology stock. The shares were sold at an average price of $115.00, for a total transaction of $483,115.00.

Seagate Technology Stock Performance

STX traded up $1.96 on Friday, reaching $148.68. The company had a trading volume of 1,884,718 shares, compared to its average volume of 3,255,378. The business has a 50 day simple moving average of $128.31 and a 200 day simple moving average of $102.93. The company has a market cap of $31.55 billion, a price-to-earnings ratio of 21.48 and a beta of 1.45. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $152.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results 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 17.49% and a negative return on equity of 105.02%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted $0.33 earnings per share. The business's revenue was up 30.5% compared to the same quarter last year. As a group, equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Wednesday, June 25th. Seagate Technology's payout ratio is 41.62%.

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

Institutional Investors Weigh In On Seagate Technology

Several institutional investors and hedge funds have recently modified their holdings of STX. Tidal Investments LLC increased its position in Seagate Technology by 133.1% in the fourth quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock worth $1,094,000 after purchasing an additional 7,240 shares during the last quarter. Personal CFO Solutions LLC purchased a new stake in shares of Seagate Technology in the first quarter valued at $223,000. Amalgamated Bank raised its stake in shares of Seagate Technology by 0.8% in the first quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider's stock valued at $2,545,000 after acquiring an additional 243 shares during the period. Alps Advisors Inc. raised its stake in shares of Seagate Technology by 10.2% in the first quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock valued at $23,687,000 after acquiring an additional 25,817 shares during the period. Finally, Norges Bank purchased a new stake in shares of Seagate Technology in the fourth quarter valued at $25,729,000. Institutional investors own 92.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STX. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 target price on shares of Seagate Technology in a research note on Friday, May 23rd. Morgan Stanley increased their target price on shares of Seagate Technology from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Monday. Citigroup raised their target price on shares of Seagate Technology from $140.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Finally, Wedbush restated an "outperform" rating and issued a $140.00 price target on shares of Seagate Technology in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average target price of $130.00.

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.