Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris Sells 11,158 Shares

Seagate Technology Holdings plc (NASDAQ:STX) SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Seagate Technology Price Performance

Shares of STX stock traded up $0.54 on Wednesday, reaching $90.05. 913,333 shares of the company were exchanged, compared to its average volume of 2,762,396. Seagate Technology Holdings plc has a one year low of $55.11 and a one year high of $101.26. The company has a market cap of $18.91 billion, a price-to-earnings ratio of -69.81, a PEG ratio of 242.66 and a beta of 1.06. The company has a 50-day moving average of $89.15 and a 200-day moving average of $84.00.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. The firm’s revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.43) EPS. As a group, sell-side analysts predict that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Institutional Investors Weigh In On Seagate Technology

Several hedge funds and other institutional investors have recently made changes to their positions in STX. Capital Research Global Investors grew its holdings in shares of Seagate Technology by 39.3% in the fourth quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after acquiring an additional 4,685,454 shares in the last quarter. Norges Bank purchased a new stake in shares of Seagate Technology during the 4th quarter valued at $188,834,000. FMR LLC raised its stake in shares of Seagate Technology by 13.1% during the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock worth $918,664,000 after purchasing an additional 1,612,264 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after buying an additional 1,485,937 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Seagate Technology by 24.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock valued at $158,950,000 after buying an additional 470,592 shares during the period. 92.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on STX shares. Susquehanna upped their target price on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research note on Wednesday, April 10th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, April 24th. BNP Paribas cut shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research report on Thursday, January 11th. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.53.

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.