Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 3,594 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $130.00, for a total transaction of $467,220.00. Following the completion of the transaction, the executive vice president now directly owns 11,064 shares of the company's stock, valued at approximately $1,438,320. This trade represents a 24.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Ban Seng Teh also recently made the following trade(s):
- On Wednesday, June 4th, Ban Seng Teh sold 63,418 shares of Seagate Technology stock. The stock was sold at an average price of $125.00, for a total transaction of $7,927,250.00.
- On Tuesday, June 3rd, Ban Seng Teh sold 11,309 shares of Seagate Technology stock. The stock was sold at an average price of $120.00, for a total transaction 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 transaction of $483,115.00.
Seagate Technology Stock Down 1.7%
Shares of NASDAQ:STX opened at $127.99 on Wednesday. The stock has a market cap of $27.16 billion, a PE ratio of 23.40 and a beta of 1.40. The company's fifty day moving average is $95.36 and its 200 day moving average is $94.54. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week 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. The company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm's revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 6.83 EPS for the current year.
Seagate Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's payout ratio is presently 41.62%.
Seagate Technology declared that its Board of Directors has approved a share repurchase program on Thursday, May 22nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Mizuho lowered their target price on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 target price on shares of Seagate Technology in a research note on Friday, May 23rd. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. Wells Fargo & Company increased their target price on shares of Seagate Technology from $105.00 to $122.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Finally, Wedbush reiterated an "outperform" rating and issued a $140.00 target price on shares of Seagate Technology in a research note on Wednesday, May 21st. One investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $119.42.
Check Out Our Latest Analysis on Seagate Technology
Institutional Investors Weigh In On Seagate Technology
A number of large investors have recently added to or reduced their stakes in STX. Yousif Capital Management LLC grew its holdings in 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 worth $2,382,000 after acquiring an additional 121 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 worth $1,760,000 after acquiring an additional 5,527 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Seagate Technology by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 479,613 shares of the data storage provider's stock worth $41,395,000 after acquiring an additional 14,185 shares during the last quarter. Vest Financial LLC grew its holdings in Seagate Technology by 33.4% in the 4th quarter. Vest Financial LLC now owns 4,950 shares of the data storage provider's stock worth $427,000 after acquiring an additional 1,238 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in Seagate Technology by 5.7% in the 4th quarter. Apollon Wealth Management LLC now owns 12,887 shares of the data storage provider's stock worth $1,112,000 after acquiring an additional 693 shares during the last quarter. Institutional investors own 92.87% of the company's stock.
Seagate Technology Company Profile
(
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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