Key Points
- Seagate CEO William Mosley sold 20,000 shares at an average of $285.56 for $5,711,200, reducing his holdings by 4.45% to 429,895 shares, as disclosed in an SEC filing.
- Seagate raised its quarterly dividend to $0.74 (from $0.72), annualized $2.96, with an ex-dividend date of Dec. 24 and a payout representing about a 0.9% yield.
- Shares are trading near a 12‑month high (opened $330.42) with a market cap around $70.6B, and analysts hold a consensus rating of "Moderate Buy" with a $293.13 price target amid several upward revisions.
Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) CEO William Mosley sold 20,000 shares of the business's stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $285.56, for a total transaction of $5,711,200.00. Following the completion of the sale, the chief executive officer directly owned 429,895 shares in the company, valued at approximately $122,760,816.20. This represents a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Seagate Technology Stock Up 14.0%
Shares of NASDAQ:STX opened at $330.42 on Wednesday. The firm has a market cap of $70.56 billion, a P/E ratio of 42.42, a P/E/G ratio of 1.13 and a beta of 1.60. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $332.00. The business has a fifty day simple moving average of $275.98 and a 200 day simple moving average of $214.27.
Seagate Technology Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 24th will be paid a $0.74 dividend. This is an increase from Seagate Technology's previous quarterly dividend of $0.72. This represents a $2.96 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, December 24th. Seagate Technology's payout ratio is presently 38.00%.
Institutional Trading of Seagate Technology
Large investors have recently made changes to their positions in the company. Vision Financial Markets LLC acquired a new position in Seagate Technology during the 2nd quarter valued at about $173,000. Nordea Investment Management AB lifted its holdings in shares of Seagate Technology by 18.0% in the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider's stock valued at $2,632,000 after purchasing an additional 2,808 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd boosted its position in shares of Seagate Technology by 185.8% during the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider's stock valued at $2,704,000 after buying an additional 12,178 shares during the last quarter. Channing Capital Management LLC bought a new stake in Seagate Technology during the second quarter worth $4,542,000. Finally, Allspring Global Investments Holdings LLC raised its position in Seagate Technology by 21.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 61,263 shares of the data storage provider's stock valued at $8,886,000 after buying an additional 10,847 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
STX has been the subject of several analyst reports. Loop Capital raised their price target on shares of Seagate Technology from $350.00 to $465.00 and gave the stock a "buy" rating in a report on Monday, November 10th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $280.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, November 6th. Wells Fargo & Company increased their price target on Seagate Technology from $240.00 to $250.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 29th. UBS Group dropped their price objective on Seagate Technology from $235.00 to $230.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 29th. Finally, Barclays upped their target price on Seagate Technology from $200.00 to $240.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.13.
Check Out Our Latest Report on STX
Seagate Technology Company Profile
(
Get Free Report)
Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm's product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.
Seagate's products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
