Seagate Technology Holdings plc (NASDAQ:STX) Director Stephanie Tilenius Sells 2,693 Shares of Stock

Seagate Technology Holdings plc (NASDAQ:STX) Director Stephanie Tilenius sold 2,693 shares of Seagate Technology stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $128.04, for a total transaction of $344,811.72. Following the sale, the director now owns 12,244 shares in the company, valued at approximately $1,567,721.76. This represents a 18.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Seagate Technology Stock Down 0.6%

Seagate Technology stock opened at $126.97 on Friday. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $129.96. The firm’s fifty day moving average is $93.33 and its 200 day moving average is $94.16. The company has a market capitalization of $26.95 billion, a PE ratio of 23.21 and a beta of 1.40.

Seagate Technology (NASDAQ:STX) last released 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 net margin of 14.67% and a negative return on equity of 63.48%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the company earned $0.33 EPS. Seagate Technology’s quarterly revenue was up 30.5% compared to the same quarter last year. Sell-side analysts expect that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.27%. Seagate Technology’s payout ratio is presently 41.62%.

Seagate Technology announced that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MWA Asset Management increased its stake in Seagate Technology by 0.5% during the 4th quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock valued at $1,695,000 after purchasing an additional 104 shares in the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after buying an additional 112 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Signaturefd LLC lifted its holdings in Seagate Technology by 2.3% during the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider’s stock valued at $431,000 after purchasing an additional 113 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Seagate Technology by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,098 shares of the data storage provider’s stock valued at $1,562,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on STX. Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Morgan Stanley boosted their price target on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Citigroup boosted their price target on shares of Seagate Technology from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Mizuho dropped their price target on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. Finally, Wall Street Zen downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $118.89.

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.