Seagate Technology (NASDAQ:STX) Trading Down 4.1%

Shares of Seagate Technology Holdings plc (NASDAQ:STX) fell 4.1% during mid-day trading on Thursday . The company traded as low as $103.74 and last traded at $105.07. 1,939,615 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 2,619,427 shares. The stock had previously closed at $109.53.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STX. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday. Robert W. Baird lifted their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Mizuho increased their target price on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Hold” and a consensus price target of $115.94.

Seagate Technology Stock Down 5.1 %

The firm’s fifty day simple moving average is $101.03 and its 200-day simple moving average is $92.83. The firm has a market capitalization of $21.83 billion, a PE ratio of -84.91 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.05%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.29) EPS. As a group, analysts predict that Seagate Technology Holdings plc will post 5.11 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.69%. Seagate Technology’s payout ratio is -217.05%.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 10,742 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the firm’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 completion of the transaction, the senior vice president now owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the transaction, the executive vice president now owns 5,042 shares of the company’s stock, valued at $504,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,531 shares of company stock worth $3,592,946. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Seagate Technology

Hedge funds have recently bought and sold shares of the business. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Seagate Technology in the 4th quarter worth about $26,000. CVA Family Office LLC bought a new stake in Seagate Technology during the fourth quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Seagate Technology during the fourth quarter valued at approximately $28,000. Northwest Financial Advisors bought a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $31,000. Finally, Family Firm Inc. purchased a new position in shares of Seagate Technology in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Company Profile

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.