Seagate Technology Holdings PLC (NASDAQ:STX – Get Free Report) EVP John Morris sold 2,675 shares of Seagate Technology stock in a transaction on Friday, October 30th. The stock was sold at an average price of $650.15, for a total value of $1,739,151.25. Following the transaction, the executive vice president directly owned 20,933 shares of the company’s stock, valued at approximately $13,609,589.95. This represents a 11.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
John Christopher Morris also recently made the following trade(s):
- On Monday, September 21st, John Morris sold 9,354 shares of Seagate Technology stock. The stock was sold at an average price of $877.91, for a total value of $8,211,970.14.
- On Tuesday, September 15th, John Morris sold 15,466 shares of Seagate Technology stock. The shares were sold at an average price of $772.15, for a total value of $11,942,071.90.
- On Monday, September 14th, John Morris sold 493 shares of Seagate Technology stock. The shares were sold at an average price of $781.23, for a total value of $385,146.39.
- On Thursday, September 10th, John Morris sold 572 shares of Seagate Technology stock. The shares were sold at an average price of $862.13, for a total value of $493,138.36.
- On Friday, August 21st, John Morris sold 3,516 shares of Seagate Technology stock. The stock was sold at an average price of $849.35, for a total value of $2,986,314.60.
- On Thursday, August 20th, John Morris sold 523 shares of Seagate Technology stock. The stock was sold at an average price of $835.54, for a total value of $436,987.42.
Seagate Technology Price Performance
Seagate Technology stock opened at $466.53 on Friday. Seagate Technology Holdings PLC has a 52 week low of $228.61 and a 52 week high of $1,145.00. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.68. The firm’s 50-day simple moving average is $777.31 and its 200 day simple moving average is $693.14. The firm has a market capitalization of $107.10 billion, a PE ratio of 24.50 and a beta of 2.16.
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The data storage provider reported $7.68 EPS for the quarter, beating analysts’ consensus estimates of $7.44 by $0.24. Seagate Technology had a net margin of 31.86% and a return on equity of 252.47%. The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the prior year, the company earned $2.61 EPS. The firm’s revenue was up 61.0% on a year-over-year basis. On average, equities research analysts predict that Seagate Technology Holdings PLC will post 37.96 EPS for the current fiscal year.
Seagate Technology Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Wednesday, December 23rd will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 0.7%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Wednesday, December 23rd. Seagate Technology’s payout ratio is currently 15.55%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Retirement Wealth Solutions LLC increased its holdings in Seagate Technology by 70.6% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 29 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 12 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in shares of Seagate Technology by 0.9% during the first quarter. Bridgewater Advisors Inc. now owns 1,477 shares of the data storage provider’s stock worth $579,000 after purchasing an additional 13 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of Seagate Technology by 4.6% during the third quarter. Baker Tilly Wealth Management LLC now owns 319 shares of the data storage provider’s stock worth $295,000 after purchasing an additional 14 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Seagate Technology by 23.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 15 shares in the last quarter. Finally, One River Asset Management LLC lifted its stake in shares of Seagate Technology by 50.0% during the third quarter. One River Asset Management LLC now owns 45 shares of the data storage provider’s stock worth $42,000 after purchasing an additional 15 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
More Seagate Technology News
Here are the key news stories impacting Seagate Technology this week:
- Positive Sentiment: Seagate reported fiscal first-quarter revenue of $4.23 billion, up 61% year over year, and earnings that beat estimates. Management’s roughly $4.8 billion second-quarter revenue outlook, along with cash generation and rising HAMR adoption, supports the growth case. Earnings Beat Might Change The Case For Seagate Stock
- Neutral Sentiment: An executive’s recent share sale was made under a pre-arranged Rule 10b5-1 plan, which may make it less significant as a signal of the executive’s near-term outlook. Insider Selling: Seagate Technology EVP Sells Stock
- Negative Sentiment: STX and other storage stocks were caught in a renewed AI-sector sell-off. Investors reacted to political uncertainty after the midterm elections and a lawmaker’s call for a pause in advanced AI development, raising concerns about the outlook for AI investment and related data-center demand. Seagate Sinks as Lawmaker Urges a Pause on Advanced AI Development
- Negative Sentiment: The broader technology sell-off added pressure: the PHLX Semiconductor Index was down sharply, reflecting risk aversion across chip and data-storage stocks. A Sharp Pullback in Chip Stocks Meets Fresh Records in Recent Earnings Reports
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the stock. UBS Group reissued a “buy” rating on shares of Seagate Technology in a research note on Monday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $1,350.00 target price on shares of Seagate Technology in a research note on Wednesday, July 29th. Robert W. Baird set a $1,350.00 target price on Seagate Technology in a report on Wednesday, October 28th. Morgan Stanley lowered their target price on Seagate Technology from $1,200.00 to $1,148.00 and set an “overweight” rating on the stock in a report on Wednesday, October 28th. Finally, Weiss Ratings downgraded Seagate Technology from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Twenty-three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price of $1,000.88.
Get Our Latest Report on Seagate Technology
Seagate Technology Company Profile
Seagate Technology Holdings plc (NASDAQ: STX) is a data storage company that develops and manufactures mass-capacity storage products and solutions. Its portfolio is centered on hard disk drives (HDDs) used in cloud data centers, enterprise systems, network-attached storage, video and imaging applications, and personal computers.
The company also provides storage-related services and solutions designed to help organizations store, manage, protect, and access large volumes of digital information.
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