Bessemer Group Inc. boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 68.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 17,564 shares of the data storage provider’s stock after purchasing an additional 7,150 shares during the quarter. Bessemer Group Inc.’s holdings in Seagate Technology were worth $1,634,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Clearbridge Investments LLC lifted its stake in Seagate Technology by 14.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after acquiring an additional 337,464 shares during the period. Aequim Alternative Investments LP lifted its stake in Seagate Technology by 90.0% during the 1st quarter. Aequim Alternative Investments LP now owns 79,400 shares of the data storage provider’s stock valued at $7,388,000 after acquiring an additional 37,600 shares during the period. Seven Eight Capital LP bought a new position in Seagate Technology during the 1st quarter valued at about $5,402,000. Vanguard Group Inc. lifted its stake in Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after acquiring an additional 746,395 shares during the period. Finally, Kaizen Investment Management Pte. Ltd. bought a new position in Seagate Technology during the 1st quarter valued at about $9,714,000. 92.87% of the stock is owned by hedge funds and other institutional investors.
Seagate Technology Stock Down 5.1 %
Shares of STX opened at $103.96 on Friday. Seagate Technology Holdings plc has a 1 year low of $57.32 and a 1 year high of $113.57. The company has a 50 day simple moving average of $101.15 and a two-hundred day simple moving average of $92.91.
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the firm posted ($0.29) EPS. The company’s revenue was up 17.8% on a year-over-year basis. On average, analysts forecast that Seagate Technology Holdings plc will post 5.65 EPS for the current year.
Seagate Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Northland Securities increased their price objective on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a research note on Wednesday. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America reiterated a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a research note on Wednesday, June 5th. Wedbush increased their price objective on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Rosenblatt Securities increased their price objective on shares of Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Hold” and an average price target of $115.94.
View Our Latest Stock Report on Seagate Technology
Insider Buying and Selling at Seagate Technology
In related news, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the completion of the transaction, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Ban Seng Teh sold 10,742 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at $504,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the completion of the transaction, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The disclosure for this sale can be found here. Insiders sold a total of 37,531 shares of company stock valued at $3,592,946 in the last three months. 0.89% of the stock is currently owned by corporate insiders.
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.
See Also
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