Seagate Technology (NASDAQ:STX) EVP Ban Seng Teh Sells 1,412 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) EVP Ban Seng Teh sold 1,412 shares of the company’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $299.31, for a total transaction of $422,625.72. Following the transaction, the executive vice president owned 13,693 shares of the company’s stock, valued at $4,098,451.83. This represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $270.00, for a total value of $1,620,000.00.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $312.28 on Thursday. The stock has a market capitalization of $66.69 billion, a P/E ratio of 40.09, a PEG ratio of 1.25 and a beta of 1.60. The business has a 50 day simple moving average of $281.33 and a two-hundred day simple moving average of $220.88. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $332.00.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th were paid a $0.74 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. This represents a $2.96 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, December 24th. Seagate Technology’s payout ratio is 38.00%.

Institutional Investors Weigh In On Seagate Technology

A number of institutional investors have recently made changes to their positions in STX. Integrated Wealth Concepts LLC raised its position in Seagate Technology by 168.0% in the first quarter. Integrated Wealth Concepts LLC now owns 7,177 shares of the data storage provider’s stock valued at $610,000 after purchasing an additional 4,499 shares during the period. Parallel Advisors LLC grew its position in Seagate Technology by 39.6% in the 2nd quarter. Parallel Advisors LLC now owns 4,054 shares of the data storage provider’s stock valued at $585,000 after acquiring an additional 1,151 shares in the last quarter. Range Financial Group LLC grew its position in Seagate Technology by 1.4% in the 2nd quarter. Range Financial Group LLC now owns 32,722 shares of the data storage provider’s stock valued at $4,723,000 after acquiring an additional 442 shares in the last quarter. Czech National Bank lifted its position in shares of Seagate Technology by 6.7% during the second quarter. Czech National Bank now owns 51,873 shares of the data storage provider’s stock worth $7,487,000 after purchasing an additional 3,248 shares in the last quarter. Finally, Veracity Capital LLC lifted its holdings in Seagate Technology by 5.8% during the 2nd quarter. Veracity Capital LLC now owns 3,760 shares of the data storage provider’s stock worth $543,000 after buying an additional 206 shares in 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 topic of several recent research reports. Cantor Fitzgerald boosted their target price on Seagate Technology from $280.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. TD Cowen raised their target price on Seagate Technology from $270.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Mizuho lifted their price target on Seagate Technology from $245.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. UBS Group dropped their price objective on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Finally, The Goldman Sachs Group lifted their target price on shares of Seagate Technology from $170.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. 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 stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.13.

Seagate Technology Company Profile

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.