Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) Director Jay L. Geldmacher sold 4,100 shares of the company's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $103.30, for a total transaction of $423,530.00. Following the completion of the transaction, the director now owns 2,852 shares in the company, valued at approximately $294,611.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Seagate Technology Stock Performance
NASDAQ STX opened at $103.98 on Friday. Seagate Technology Holdings plc has a one year low of $64.12 and a one year high of $115.32. The company's 50 day moving average price is $105.13 and its 200 day moving average price is $99.58. The firm has a market capitalization of $21.83 billion, a price-to-earnings ratio of -80.60 and a beta of 1.04.
Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 30.18%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted ($0.34) earnings per share. Seagate Technology's revenue for the quarter was up 49.1% compared to the same quarter last year. Sell-side analysts forecast that Seagate Technology Holdings plc will post 7.09 EPS for the current fiscal year.
Seagate Technology Increases Dividend
625,000% Gain
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.77%. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's dividend payout ratio (DPR) is currently -217.05%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Evercore ISI upped their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday. Citigroup upped their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday. Wells Fargo & Company upped their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the company an "equal weight" rating in a report on Wednesday, July 24th. UBS Group increased their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $118.83.
Get Our Latest Stock Analysis on Seagate Technology
Institutional Trading of Seagate Technology
A number of hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in shares of Seagate Technology by 7.6% during the third quarter. Nisa Investment Advisors LLC now owns 30,734 shares of the data storage provider's stock valued at $3,388,000 after purchasing an additional 2,164 shares during the period. Concord Wealth Partners raised its stake in shares of Seagate Technology by 114.3% during the third quarter. Concord Wealth Partners now owns 1,500 shares of the data storage provider's stock valued at $164,000 after purchasing an additional 800 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Seagate Technology by 14.9% during the third quarter. State of Alaska Department of Revenue now owns 24,391 shares of the data storage provider's stock valued at $2,671,000 after purchasing an additional 3,155 shares during the period. Frank Rimerman Advisors LLC raised its stake in shares of Seagate Technology by 8.8% during the third quarter. Frank Rimerman Advisors LLC now owns 3,441 shares of the data storage provider's stock valued at $377,000 after purchasing an additional 277 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Seagate Technology by 5.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 37,100 shares of the data storage provider's stock valued at $4,017,000 after purchasing an additional 1,912 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.
About Seagate Technology
(
Get Free Report)
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.
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