John Christopher Morris Sells 5,928 Shares of Seagate Technology Holdings plc (NASDAQ:STX) Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 5,928 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total transaction of $592,740.72. Following the completion of the sale, the senior vice president now owns 12,185 shares in the company, valued at approximately $1,218,378.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

John Christopher Morris also recently made the following trade(s):

• On Tuesday, May 7th, John Christopher Morris sold 11,158 shares of Seagate Technology stock. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00.

Seagate Technology Stock Performance

Shares of STX stock opened at $103.86 on Friday. Seagate Technology Holdings plc has a fifty-two week low of $57.32 and a fifty-two week high of $105.28. The stock’s fifty day moving average is $91.76 and its two-hundred day moving average is $88.49. The firm has a market capitalization of $21.81 billion, a P/E ratio of -80.51 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.43) earnings per share. On average, equities analysts forecast that Seagate Technology Holdings plc will post 0.44 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.70%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Institutional Investors Weigh In On Seagate Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Seagate Technology in the 4th quarter valued at $26,000. CVA Family Office LLC purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Seagate Technology during the fourth quarter worth about $28,000. Northwest Financial Advisors purchased a new position in Seagate Technology during the fourth quarter worth about $31,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cantor Fitzgerald upped their price objective on Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Citigroup initiated coverage on shares of Seagate Technology in a research report on Tuesday, May 14th. They set a “buy” rating and a $110.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Barclays dropped their target price on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Finally, Evercore ISI started coverage on Seagate Technology in a report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $98.29.

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.