Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) Director Stephanie Tilenius sold 2,693 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Seagate Technology Stock Performance
Shares of NASDAQ:STX traded up $3.20 during midday trading on Monday, hitting $130.17. The company's stock had a trading volume of 5,425,460 shares, compared to its average volume of 3,042,103. The business's 50 day simple moving average is $94.23 and its 200 day simple moving average is $94.30. The company has a market cap of $27.62 billion, a P/E ratio of 23.80 and a beta of 1.40. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $132.23.
Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping 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 period in the previous year, the firm earned $0.33 earnings per share. Seagate Technology's quarterly revenue was up 30.5% compared to the same quarter last year. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.
Seagate Technology declared that its Board of Directors has approved a share repurchase program on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.
Seagate Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.
Hedge Funds Weigh In On Seagate Technology
A number of institutional investors have recently bought and sold shares of STX. Capital Research Global Investors raised its stake in Seagate Technology by 56.5% during the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock worth $1,348,262,000 after purchasing an additional 5,640,443 shares during the period. JPMorgan Chase & Co. increased its position in shares of Seagate Technology by 12.9% during the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider's stock valued at $1,607,321,000 after acquiring an additional 2,161,191 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after acquiring an additional 1,814,821 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Seagate Technology by 3,339.4% during the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider's stock valued at $79,343,000 after acquiring an additional 906,840 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Seagate Technology during the fourth quarter valued at about $77,341,000. 92.87% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently commented on STX shares. Barclays raised their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Morgan Stanley lifted their target price on shares of Seagate Technology from $99.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $105.00 to $122.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Finally, Bank of America lifted their target price on shares of Seagate Technology from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus target price of $119.42.
Check Out Our Latest Research Report on STX
About Seagate Technology
(
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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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