HB Wealth Management LLC increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX – free report ) by 18.0% in the first quarter, according to its latest filing with the Securities and Exchange Commission. During the period, the firm purchased an additional 427 shares of the data storage provider’s stock, bringing its holdings to 2,799 shares. HB Wealth Management LLC’s holdings in Seagate Technology were worth $260,000 as of the latest filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of STX.Farmers & Merchants Trust Co, Chambersburg, Pennsylvania, acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $26,000.CVA Family Office LLC acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $27,000.Turtle Creek Wealth Advisors LLC acquired a new stake in Seagate Technology in the fourth quarter valued at $28,000.Northwest Financial Advisors acquired a new stake in Seagate Technology in the fourth quarter valued at $31,000.Finally, Valley National Advisers Inc. increased its holdings in shares of Seagate Technology by 39.7% in the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 144 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
Seagate Technology shares rose 0.7%
STX shares opened trading at $102.04 on Friday. The stock’s 50-day moving average is $96.98 and its 200-day moving average is $90.78. The company has a market capitalization of $21.43 billion, a P/E ratio of -79.10 and a beta of 1.02. Seagate Technology Holdings plc’s low over the past 12 months is $57.32 and its high over the past 12 months is $107.91.
Seagate Technology (NASDAQ:STX – Get free report ) released its quarterly earnings report on Tuesday, April 23rd. The data storage provider reported quarterly earnings per share of $0.33, beating analysts’ consensus estimates of $0.29 by $0.04. The company’s quarterly revenue was $1.66 billion, beating the consensus estimate of $1.68 billion. During the same period last year, the company earned ($0.43) per share. Seagate Technology’s quarterly revenue was down 11.0% year over year. Equity analysts expect Seagate Technology Holdings plc to post earnings per share of $0.44 for the current fiscal year.
Seagate Technology announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 20th were paid a $0.70 dividend. The ex-dividend date for this dividend was Thursday, June 20th. This equates to an annualized dividend of $2.80, or a dividend yield of 2.74%. Seagate Technology’s dividend payout ratio is currently -217.05%.
Insider Trading at Seagate Technology
In related news, SVP John Christopher Morris sold 5,928 shares of the company’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 SVP now directly owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The sale was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. In related news, EVP Bang Saen Te sold 9,703 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the transaction, the Executive Vice President now owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The transaction was disclosed in a Securities and Exchange Commission filing, which can be viewed at this link. Additionally, SVP John Christopher Morris sold 5,928 shares of the company’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 sale, the Senior Vice President now owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The disclosure for this sale can be viewed here. During the most recent quarter, insiders sold 37,531 shares of the company’s stock for a total value of $3,592,946. 0.89% of the stock is owned by company insiders.
What Wall Street analysts are saying
A number of research analysts have commented on STX stock. UBS Group boosted their price target on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley raised their rating on Seagate Technology from an “equal weight” to an “overweight” rating and raised their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Bank of America reaffirmed their “buy” rating on Seagate Technology shares and set a $110.00 price target for the company in a research report on Wednesday, June 5th. Susquehanna boosted their price target on Seagate Technology shares from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Finally, Wedbush upgraded shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100 price target on the stock in a report on Wednesday, May 1. Two research analysts have rated the stock with a sell rating, eight have rated it with a hold rating, and ten have rated it with a buy rating. According to MarketBeat, Seagate Technology has a consensus rating of “hold” and a consensus price target of $98.29.
Get the latest analysis for STX
Seagate Technology Company Profile
(Free report)
Seagate Technology Holdings plc provides data storage technologies and solutions in Singapore, the United States, the Netherlands and internationally. It offers mass storage products such as enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs and network attached storage drives.
References
Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Seagate Technology Holdings plc (NASDAQ:STX – FREE REPORT).
Get Seagate Technology News and Ratings Daily – Enter your email address below to receive a concise summary of the latest news and analyst ratings on Seagate Technology and related companies every day with MarketBeat.com’s free email newsletter.
