Bell Bank increased its position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 81,170 shares of the data storage provider's stock after purchasing an additional 4,328 shares during the quarter. Bell Bank's holdings in Seagate Technology were worth $6,895,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of STX. Capital Research Global Investors raised its stake in Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after buying an additional 5,640,443 shares during the period. Vanguard Group Inc. increased its holdings in shares of Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after acquiring an additional 1,814,821 shares during the last quarter. Marshall Wace LLP bought a new stake in Seagate Technology in the 4th quarter valued at $77,341,000. Junto Capital Management LP bought a new stake in Seagate Technology in the 4th quarter valued at $60,303,000. Finally, Janus Henderson Group PLC lifted its holdings in Seagate Technology by 2,853.4% during the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock valued at $57,925,000 after purchasing an additional 648,257 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Seagate Technology
In other Seagate Technology news, CFO Gianluca Romano sold 25,018 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $117.31, for a total value of $2,934,861.58. Following the completion of the transaction, the chief financial officer now owns 38,082 shares of the company's stock, valued at $4,467,399.42. This represents a 39.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 70,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $109.47, for a total value of $7,662,900.00. Following the completion of the transaction, the chief executive officer now directly owns 485,677 shares of the company's stock, valued at $53,167,061.19. This represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,791 shares of company stock valued at $46,380,998 over the last ninety days. 0.81% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts have commented on STX shares. BNP Paribas Exane upgraded shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a report on Friday, May 16th. Bank of America upped their price target on shares of Seagate Technology from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Mizuho lowered their price target on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Cantor Fitzgerald raised their price objective on shares of Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $140.00 target price on shares of Seagate Technology in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $119.42.
View Our Latest Analysis on Seagate Technology
Seagate Technology Trading Down 0.3%
Seagate Technology stock traded down $0.34 during trading hours on Friday, reaching $130.96. 6,027,270 shares of the stock were exchanged, compared to its average volume of 3,093,490. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $133.76. The company has a market cap of $27.79 billion, a P/E ratio of 18.92 and a beta of 1.40. The stock has a 50 day moving average of $103.71 and a two-hundred day moving average of $95.93.
Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The firm's quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.
Seagate Technology announced that its board has approved a share repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.
Seagate Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.20%. Seagate Technology's dividend payout ratio is currently 41.62%.
Seagate Technology Company Profile
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Free Report)
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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