Key Points
- Seagate EVP Ban Seng Teh sold 1,412 shares on Jan. 12 at an average price of $299.31 for about $422,626, reducing his holding by 9.35% to 13,693 shares (≈$4.10M).
- Seagate increased its quarterly dividend to $0.74 from $0.72 (annualized $2.96), yielding about 0.9% with a 38% payout ratio; the dividend was paid Jan. 9 (record date Dec. 24).
- Analyst sentiment is largely positive with a "Moderate Buy" consensus and an average price target of $293.13, and several firms have recently raised targets (e.g., Cantor Fitzgerald to $400, Morgan Stanley to $337).
Seagate Technology Holdings PLC (NASDAQ:STX - Get Free Report) EVP Ban Seng Teh sold 1,412 shares of the business's stock in a transaction on Monday, January 12th. The stock was sold at an average price of $299.31, for a total value of $422,625.72. Following the transaction, the executive vice president directly owned 13,693 shares of the company's stock, valued at $4,098,451.83. The trade was a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Ban Seng Teh also recently made the following trade(s):
- On Wednesday, November 5th, Ban Seng Teh sold 6,000 shares of Seagate Technology stock. The shares were sold at an average price of $270.00, for a total transaction of $1,620,000.00.
Seagate Technology Trading Down 1.9%
Shares of NASDAQ:STX opened at $312.28 on Thursday. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $332.00. The company's 50 day moving average is $281.33 and its two-hundred day moving average is $220.88. The company has a market cap of $66.69 billion, a PE ratio of 40.09, a P/E/G ratio of 1.25 and a beta of 1.60.
Seagate Technology Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 24th were paid a dividend of $0.74 per share. The ex-dividend date was Wednesday, December 24th. This is a positive change from Seagate Technology's previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a yield of 0.9%. Seagate Technology's dividend payout ratio (DPR) is presently 38.00%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Cantor Fitzgerald lifted their target price on Seagate Technology from $280.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, November 6th. Wells Fargo & Company lifted their price target on Seagate Technology from $240.00 to $250.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 29th. The Goldman Sachs Group boosted their price objective on Seagate Technology from $170.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. China Renaissance started coverage on shares of Seagate Technology in a report on Friday, December 5th. They issued a "buy" rating and a $325.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of Seagate Technology from $270.00 to $337.00 and gave the company an "overweight" rating in a research report on Wednesday, December 17th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $293.13.
Get Our Latest Analysis on Seagate Technology
Institutional Investors Weigh In On Seagate Technology
A number of hedge funds have recently added to or reduced their stakes in STX. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology during the 2nd quarter worth approximately $27,000. Rakuten Securities Inc. raised its position in Seagate Technology by 884.2% in the second quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider's stock worth $27,000 after acquiring an additional 168 shares in the last quarter. Armstrong Advisory Group Inc. acquired a new stake in Seagate Technology in the fourth quarter valued at $28,000. MTM Investment Management LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter worth $29,000. Finally, First Horizon Corp acquired a new stake in shares of Seagate Technology in the third quarter valued at about $33,000. Institutional investors and hedge funds own 92.87% of the company's stock.
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.
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