Seagate Technology Holdings PLC (NASDAQ:STX) Declares Quarterly Dividend of $0.74

Seagate Technology Holdings PLC (NASDAQ:STX) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Thursday, September 24th will be given a dividend of 0.74 per share by the data storage provider on Wednesday, October 7th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, September 24th.

Seagate Technology has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Seagate Technology has a dividend payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Seagate Technology to earn $26.84 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 11.0%.

Seagate Technology Trading Up 1.5%

STX stock traded up $11.14 on Wednesday, reaching $758.44. The company’s stock had a trading volume of 2,160,761 shares, compared to its average volume of 4,332,680. The business has a fifty day simple moving average of $894.95 and a two-hundred day simple moving average of $618.98. Seagate Technology has a 12-month low of $138.30 and a 12-month high of $1,145.00. The firm has a market cap of $170.07 billion, a PE ratio of 72.19 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 28th. The data storage provider reported $5.71 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.61. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Seagate Technology had a net margin of 21.60% and a return on equity of 1,005.65%. The firm’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 earnings per share. Seagate Technology has set its Q1 2027 guidance at 7.100-7.500 EPS. As a group, research analysts forecast that Seagate Technology will post 14.14 EPS for the current year.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 8,003 shares of Seagate Technology stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $817.28, for a total transaction of $6,540,691.84. Following the completion of the transaction, the executive vice president directly owned 3,691 shares in the company, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William D. Mosley sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $751.29, for a total value of $22,538,700.00. Following the completion of the sale, the chief executive officer directly owned 339,591 shares in the company, valued at approximately $255,131,322.39. This represents a 8.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 151,069 shares of company stock valued at $126,191,753. Insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STX. Salomon & Ludwin LLC increased its holdings in shares of Seagate Technology by 124.4% during the fourth quarter. Salomon & Ludwin LLC now owns 92 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 51 shares in the last quarter. Rakuten Securities Inc. increased its stake in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 168 shares in the last quarter. Avion Wealth increased its stake in Seagate Technology by 343.5% during the 4th quarter. Avion Wealth now owns 102 shares of the data storage provider’s stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Concord Wealth Partners purchased a new position in Seagate Technology in the fourth quarter worth about $28,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Seagate Technology by 23.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 80 shares of the data storage provider’s stock worth $31,000 after buying an additional 15 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

About Seagate Technology

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.