Seagate Technology Holdings PLC (STX) To Go Ex-Dividend on December 24th

Seagate Technology Holdings PLC (NASDAQ:STX) announced a quarterly dividend on Tuesday, October 28th. Stockholders of record on Wednesday, December 24th will be paid a dividend of 0.74 per share by the data storage provider on Friday, January 9th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 24th. This is a 2.8% increase from Seagate Technology’s previous quarterly dividend of $0.72.

Seagate Technology has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Seagate Technology has a payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Seagate Technology to earn $11.08 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 26.7%.

Seagate Technology Trading Up 1.5%

STX stock opened at $296.36 on Monday. The firm has a 50-day moving average of $260.33 and a two-hundred day moving average of $200.93. Seagate Technology has a 12 month low of $63.19 and a 12 month high of $308.93. The company has a market cap of $63.29 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 1.16 and a beta of 1.59.

Insider Transactions at Seagate Technology

In related news, EVP Kian Fatt Chong sold 7,078 shares of the stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $272.14, for a total transaction of $1,926,206.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $249.90, for a total value of $4,998,000.00. Following the transaction, the chief executive officer owned 485,668 shares in the company, valued at $121,368,433.20. This trade represents a 3.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 132,555 shares of company stock worth $36,030,007. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seagate Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vision Financial Markets LLC purchased a new stake in shares of Seagate Technology during the 2nd quarter worth about $173,000. Nordea Investment Management AB lifted its position in Seagate Technology by 18.0% during the second quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after buying an additional 2,808 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd grew its stake in Seagate Technology by 185.8% during the second quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,734 shares of the data storage provider’s stock worth $2,704,000 after buying an additional 12,178 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in shares of Seagate Technology in the first quarter worth $272,000. Finally, Channing Capital Management LLC purchased a new position in shares of Seagate Technology in the 2nd quarter valued at $4,542,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

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.