John Christopher Morris Sells 11,158 Shares of Seagate Technology Holdings plc (NASDAQ:STX) Stock

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the sale, the senior vice president now directly owns 17,767 shares in the company, valued at $1,599,030. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Seagate Technology Trading Up 0.6 %

Seagate Technology stock traded up $0.54 during midday trading on Wednesday, hitting $90.05. The stock had a trading volume of 913,333 shares, compared to its average volume of 2,762,396. Seagate Technology Holdings plc has a 52-week low of $55.11 and a 52-week high of $101.26. The company has a market capitalization of $18.91 billion, a PE ratio of -69.81, a P/E/G ratio of 242.66 and a beta of 1.06. The firm’s fifty day moving average is $89.15 and its two-hundred day moving average is $84.00.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm posted ($0.43) EPS. Seagate Technology’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, equities research analysts predict that Seagate Technology Holdings plc will post 0.3 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Hedge Funds Weigh In On Seagate Technology

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

Analyst Ratings Changes

STX has been the topic of several analyst reports. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. UBS Group increased their price objective on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Wells Fargo & Company boosted their target price on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. TD Cowen raised their price target on shares of Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, Mizuho reissued a “buy” rating and set a $100.00 price objective on shares of Seagate Technology in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.53.

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.