Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 63,418 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $125.00, for a total value of $7,927,250.00. Following the completion of the transaction, the executive vice president now owns 14,658 shares of the company's stock, valued at $1,832,250. This trade represents a 81.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Ban Seng Teh also recently made the following trade(s):
- On Tuesday, June 3rd, Ban Seng Teh sold 11,309 shares of Seagate Technology stock. The shares were sold at an average price of $120.00, for a total value of $1,357,080.00.
- On Tuesday, May 27th, Ban Seng Teh sold 4,201 shares of Seagate Technology stock. The stock was sold at an average price of $115.00, for a total value of $483,115.00.
Seagate Technology Stock Down 0.6%
STX traded down $0.73 during trading on Friday, reaching $126.97. 4,375,188 shares of the company's stock were exchanged, compared to its average volume of 3,032,530. Seagate Technology Holdings plc has a fifty-two week low of $63.19 and a fifty-two week high of $129.96. The business has a 50 day moving average price of $93.33 and a 200 day moving average price of $94.09. The company has a market capitalization of $26.95 billion, a P/E ratio of 23.21 and a beta of 1.40.
Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data 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 negative return on equity of 63.48% and a net margin of 14.67%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same period last year, the business earned $0.33 earnings per share. The business's revenue was up 30.5% on a year-over-year basis. As a group, research analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current year.
Seagate Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 2.27%. Seagate Technology's dividend payout ratio is currently 41.62%.
Seagate Technology announced that its Board of Directors has authorized a stock buyback program on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to repurchase up to 21.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.
Institutional Trading of Seagate Technology
Several institutional investors and hedge funds have recently added to or reduced their stakes in STX. Spire Wealth Management grew its position in shares of Seagate Technology by 5.6% during the 4th quarter. Spire Wealth Management now owns 2,430 shares of the data storage provider's stock worth $210,000 after buying an additional 129 shares during the period. CENTRAL TRUST Co grew its position in shares of Seagate Technology by 110.7% in the 4th quarter. CENTRAL TRUST Co now owns 948 shares of the data storage provider's stock valued at $82,000 after purchasing an additional 498 shares during the period. Yousif Capital Management LLC grew its position in shares of Seagate Technology by 0.4% in the 4th quarter. Yousif Capital Management LLC now owns 27,594 shares of the data storage provider's stock valued at $2,382,000 after purchasing an additional 121 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Seagate Technology by 37.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,150 shares of the data storage provider's stock valued at $1,760,000 after purchasing an additional 5,527 shares during the period. Finally, Optimist Retirement Group LLC grew its position in shares of Seagate Technology by 16.1% in the 4th quarter. Optimist Retirement Group LLC now owns 2,640 shares of the data storage provider's stock valued at $228,000 after purchasing an additional 367 shares during the period. 92.87% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on STX shares. Wells Fargo & Company raised their price objective on Seagate Technology from $105.00 to $122.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. BNP Paribas upgraded Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Bank of America raised their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Morgan Stanley raised their price objective on Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Barclays raised their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $118.89.
View Our Latest Stock Report on Seagate Technology
Seagate Technology Company Profile
(
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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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