Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 3,594 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $130.00, for a total value of $467,220.00. Following the transaction, the executive vice president now owns 11,064 shares in the company, valued at $1,438,320. This trade represents a 24.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Ban Seng Teh also recently made the following trade(s):
- 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 transaction of $7,927,250.00.
- On Tuesday, June 3rd, Ban Seng Teh sold 11,309 shares of Seagate Technology stock. The stock was 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 stock was sold at an average price of $115.00, for a total transaction of $483,115.00.
Seagate Technology Trading Down 1.2%
Shares of NASDAQ STX traded down $1.50 during midday trading on Wednesday, reaching $126.49. 4,552,603 shares of the stock were exchanged, compared to its average volume of 3,064,791. The stock has a 50 day moving average price of $96.55 and a 200-day moving average price of $94.76. The company has a market capitalization of $26.84 billion, a P/E ratio of 23.12 and a beta of 1.40. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $132.23.
Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The company's revenue for the quarter was up 30.5% compared to the same quarter last year. On average, analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current 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 dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 2.28%. Seagate Technology's payout ratio is 41.62%.
Seagate Technology announced that its board has approved a share repurchase plan on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits 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 management believes its shares are undervalued.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. BNP Paribas Exane upgraded Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target for the company in a research note on Friday, May 16th. Wedbush reiterated an "outperform" rating and issued a $140.00 price target on shares of Seagate Technology in a research report on Wednesday, May 21st. Mizuho decreased their price objective on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Citigroup boosted their price objective on shares of Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, UBS Group increased their target price on shares of Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price of $119.42.
View Our Latest Stock Analysis on STX
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Tidal Investments LLC increased its position in Seagate Technology by 133.1% during the fourth quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock worth $1,094,000 after buying an additional 7,240 shares during the last quarter. Norges Bank acquired a new position in shares of Seagate Technology during the fourth quarter valued at about $25,729,000. Asset Management One Co. Ltd. boosted its position in shares of Seagate Technology by 9.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock valued at $7,360,000 after acquiring an additional 7,599 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Seagate Technology by 460.8% in the 4th quarter. Empowered Funds LLC now owns 18,361 shares of the data storage provider's stock valued at $1,585,000 after purchasing an additional 15,087 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Seagate Technology by 207.0% in the fourth quarter. Allworth Financial LP now owns 5,774 shares of the data storage provider's stock worth $498,000 after acquiring an additional 3,893 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
About Seagate Technology
(
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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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