Seagate Technology Holdings plc (NASDAQ:STX) Director Jay L. Geldmacher Sells 4,100 Shares

Seagate Technology Holdings plc (NASDAQ:STX) Director Jay L. Geldmacher sold 4,100 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $103.30, for a total value of $423,530.00. Following the completion of the transaction, the director now directly owns 2,852 shares in the company, valued at $294,611.60. This trade represents a 0.00 % 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 Performance

Shares of NASDAQ:STX opened at $103.01 on Friday. The company’s fifty day moving average is $105.16 and its two-hundred day moving average is $99.68. Seagate Technology Holdings plc has a 1-year low of $64.12 and a 1-year high of $115.32. The stock has a market capitalization of $21.63 billion, a price-to-earnings ratio of -79.85 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping 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 in the prior year, the business earned ($0.34) earnings per share. Seagate Technology’s quarterly revenue was up 49.1% on a year-over-year basis. Sell-side analysts expect that Seagate Technology Holdings plc will post 7.09 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given 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 yield of 2.80%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is currently -217.05%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on STX shares. Barclays boosted their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Susquehanna boosted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. UBS Group raised their price target on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday. Finally, Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $118.83.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Seagate Technology during the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the last quarter. Family Firm Inc. acquired a new position in Seagate Technology during the 2nd quarter valued at about $41,000. JFS Wealth Advisors LLC grew its position in Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after purchasing an additional 473 shares during the period. 92.87% of the stock is currently owned by institutional investors.

About Seagate Technology

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.