Sei Investments Co. lowered its holdings in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 35.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,837 shares of the data storage provider’s stock after selling 5,840 shares during the quarter. Sei Investments Co.’s holdings in Seagate Technology were worth $1,008,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. Forsta AP Fonden lifted its holdings in Seagate Technology by 9.0% in the 1st quarter. Forsta AP Fonden now owns 44,700 shares of the data storage provider’s stock worth $4,159,000 after buying an additional 3,700 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Seagate Technology by 15.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 60,702 shares of the data storage provider’s stock worth $5,648,000 after buying an additional 8,242 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Seagate Technology by 29.3% in the 1st quarter. Oppenheimer & Co. Inc. now owns 20,973 shares of the data storage provider’s stock worth $1,952,000 after buying an additional 4,752 shares during the period. Hilltop National Bank purchased a new position in shares of Seagate Technology in the 1st quarter valued at approximately $1,112,000. Finally, SG Americas Securities LLC lifted its stake in shares of Seagate Technology by 68.1% in the 1st quarter. SG Americas Securities LLC now owns 64,818 shares of the data storage provider’s stock valued at $6,031,000 after purchasing an additional 26,255 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.
Analyst Ratings Changes
A number of research firms have recently commented on STX. Bank of America restated a “buy” rating and issued a $110.00 target price on shares of Seagate Technology in a research note on Wednesday, June 5th. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Friday. Loop Capital raised their target price on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group raised their target price on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Northland Securities raised their target price on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $115.94.
Seagate Technology Trading Down 0.3 %
Seagate Technology stock opened at $103.68 on Friday. The firm has a market cap of $21.77 billion, a price-to-earnings ratio of -80.37 and a beta of 1.02. The stock has a fifty day simple moving average of $101.31 and a two-hundred day simple moving average of $93.16. Seagate Technology Holdings plc has a 12 month low of $57.79 and a 12 month high of $113.57.
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS. On average, equities research analysts forecast that Seagate Technology Holdings plc will post 5.65 EPS for the current fiscal year.
Seagate Technology Announces Dividend
The company 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. This represents a $2.80 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s payout ratio is currently -217.05%.
Insider Buying and Selling
In related news, SVP John Christopher Morris sold 5,928 shares of Seagate Technology stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the completion of the sale, the senior vice president now owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP John Christopher Morris sold 5,928 shares of Seagate Technology stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the completion of the sale, the senior vice president now owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The disclosure for this sale can be found here. Insiders sold 47,648 shares of company stock valued at $4,705,816 over the last 90 days. Company insiders own 0.89% 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.
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