Seagate Technology Holdings plc (NASDAQ:STX) Director Yolanda Lee Conyers Sells 750 Shares

Seagate Technology Holdings plc (NASDAQ:STX) Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the transaction, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Seagate Technology Stock Down 1.3 %

Shares of NASDAQ STX traded down $1.24 during trading on Wednesday, reaching $97.56. 3,988,273 shares of the stock were exchanged, compared to its average volume of 2,480,629. The business’s 50-day moving average price is $104.30 and its 200 day moving average price is $102.07. The company has a market capitalization of $20.64 billion, a price-to-earnings ratio of 25.80 and a beta of 1.03. Seagate Technology Holdings plc has a twelve month low of $76.87 and a twelve month high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 2.95%. Seagate Technology’s payout ratio is presently 75.20%.

Analyst Ratings Changes

Several analysts have recently commented on STX shares. Citigroup raised their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. 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. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Rosenblatt Securities raised their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Institutional Trading of Seagate Technology

Several institutional investors have recently added to or reduced their stakes in STX. Ashton Thomas Securities LLC bought a new position in shares of Seagate Technology during the third quarter worth about $26,000. Quarry LP bought a new position in shares of Seagate Technology during the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. acquired a new stake in Seagate Technology in the second quarter worth about $41,000. Finally, Advisors Asset Management Inc. lifted its holdings in Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares during the period. Institutional investors own 92.87% of the company’s stock.

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.