Insider Selling: Seagate Technology (NASDAQ:STX) Director Sells 750 Shares of Stock

Seagate Technology Holdings PLC (NASDAQ:STX) Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $272.91, for a total transaction of $204,682.50. Following the completion of the transaction, the director owned 5,601 shares of the company’s stock, valued at approximately $1,528,568.91. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Seagate Technology Price Performance

Shares of NASDAQ STX traded down $3.23 during midday trading on Tuesday, hitting $266.87. 3,101,032 shares of the company’s stock were exchanged, compared to its average volume of 4,044,940. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $297.88. The firm has a market cap of $56.99 billion, a P/E ratio of 34.26, a PEG ratio of 1.17 and a beta of 1.63. The stock’s 50 day moving average price is $245.82 and its 200-day moving average price is $184.24.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be given a dividend of $0.74 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. This represents a $2.96 dividend on an annualized basis and a yield of 1.1%. Seagate Technology’s payout ratio is presently 38.00%.

Analysts Set New Price Targets

A number of brokerages have recently commented on STX. Fox Advisors raised their price target on Seagate Technology from $245.00 to $270.00 in a report on Wednesday, October 29th. Mizuho increased their target price on shares of Seagate Technology from $245.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Sanford C. Bernstein boosted their price target on shares of Seagate Technology from $275.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. UBS Group reduced their price target on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Finally, Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $280.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $285.45.

Hedge Funds Weigh In On Seagate Technology

Several hedge funds have recently made changes to their positions in the business. West Family Investments Inc. lifted its position in shares of Seagate Technology by 2.7% during the 3rd quarter. West Family Investments Inc. now owns 1,428 shares of the data storage provider’s stock valued at $337,000 after acquiring an additional 37 shares during the last quarter. United Community Bank boosted its position in shares of Seagate Technology by 35.2% in the 3rd quarter. United Community Bank now owns 169 shares of the data storage provider’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Physician Wealth Advisors Inc. increased its stake in Seagate Technology by 43.7% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 148 shares of the data storage provider’s stock worth $35,000 after purchasing an additional 45 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Seagate Technology by 2.6% during the third quarter. Sivia Capital Partners LLC now owns 1,865 shares of the data storage provider’s stock valued at $440,000 after buying an additional 47 shares in the last quarter. Finally, Magnus Financial Group LLC boosted its holdings in shares of Seagate Technology by 2.9% in the third quarter. Magnus Financial Group LLC now owns 1,755 shares of the data storage provider’s stock worth $414,000 after buying an additional 49 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

About Seagate Technology

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.