Seagate Technology Holdings PLC (NASDAQ:STX) EVP Sells $77,870.00 in Stock

Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 599 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $130.00, for a total value of $77,870.00. Following the transaction, the executive vice president now directly owns 10,329 shares of the company's stock, valued at $1,342,770. This represents a 5.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, June 9th, Ban Seng Teh sold 3,594 shares of Seagate Technology stock. The stock was 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 stock was 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 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 shares were sold at an average price of $115.00, for a total value of $483,115.00.

Seagate Technology Trading Down 0.1%

NASDAQ STX traded down $0.17 during trading hours on Tuesday, reaching $130.87. 3,410,792 shares of the company's stock were exchanged, compared to its average volume of 3,081,884. The stock has a market cap of $27.77 billion, a PE ratio of 18.91 and a beta of 1.40. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $133.55. The firm has a fifty day moving average of $101.34 and a 200-day moving average of $95.49.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. Seagate Technology's revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.20%. Seagate Technology's payout ratio is 41.62%.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of STX. Savant Capital LLC boosted its position in Seagate Technology by 20.3% in the 4th quarter. Savant Capital LLC now owns 4,612 shares of the data storage provider's stock valued at $398,000 after buying an additional 779 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Seagate Technology by 14.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,185 shares of the data storage provider's stock worth $966,000 after purchasing an additional 1,390 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Seagate Technology by 9.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock worth $7,360,000 after purchasing an additional 7,599 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Seagate Technology by 61.7% in the 4th quarter. Vontobel Holding Ltd. now owns 5,090 shares of the data storage provider's stock worth $439,000 after purchasing an additional 1,942 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in shares of Seagate Technology by 4.5% in the 4th quarter. New York State Teachers Retirement System now owns 183,063 shares of the data storage provider's stock worth $15,800,000 after purchasing an additional 7,824 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on STX shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 price target on shares of Seagate Technology in a report on Friday, May 23rd. BNP Paribas raised Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday, May 16th. BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target for the company in a report on Friday, May 16th. Barclays upped their price target on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald upped their price target on Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Monday, May 19th. One research 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $119.42.

Seagate Technology Company Profile

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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