Kian Fatt Chong Sells 9,182 Shares of Seagate Technology Holdings plc (NASDAQ:STX) Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP Kian Fatt Chong sold 9,182 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Seagate Technology Trading Down 2.0 %

Shares of STX opened at $99.80 on Wednesday. Seagate Technology Holdings plc has a 12 month low of $71.67 and a 12 month high of $115.32. The firm has a market cap of $21.11 billion, a PE ratio of 26.06 and a beta of 1.05. The stock has a fifty day moving average price of $105.16 and a 200-day moving average price of $101.20.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business posted ($0.34) earnings per share. The firm’s revenue was up 49.1% compared to the same quarter last year. As a group, research analysts forecast that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Hedge Funds Weigh In On Seagate Technology

Several large investors have recently bought and sold shares of STX. Fisher Asset Management LLC acquired a new position in Seagate Technology during the 3rd quarter worth approximately $320,000. Daiwa Securities Group Inc. boosted its stake in shares of Seagate Technology by 1.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,973 shares of the data storage provider’s stock worth $3,064,000 after purchasing an additional 287 shares during the last quarter. Algert Global LLC purchased a new position in Seagate Technology during the third quarter worth about $612,000. Cerity Partners LLC grew its stake in shares of Seagate Technology by 25.1% during the 3rd quarter. Cerity Partners LLC now owns 35,794 shares of the data storage provider’s stock valued at $3,921,000 after buying an additional 7,177 shares during the period. Finally, Nwam LLC purchased a new stake in Seagate Technology during the 3rd quarter worth $472,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Northland Securities increased their price target on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital upped their target price on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve 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 price target of $118.83.

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.