Kovac Advisors Inc. reduced its holdings in Seagate Technology Holdings Inc. (NASDAQ:STX – free report ) by 20.8% during the first quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The fund sold 636 shares during the period, leaving it holding 2,419 shares of the data storage provider. Kovac Advisors’ holdings of Seagate Technology stock were worth $225,000 as of the latest SEC filing.
Other institutional investors have also recently bought and sold shares of STX. Capital Research Global Investors increased its holdings in Seagate Technology by 39.3% in the fourth quarter. Capital Research Global Investors now holds 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after purchasing an additional 4,685,454 shares in the last quarter. Norges Bank purchased a new stake in Seagate Technology in the fourth quarter, valued at $188,834,000. Wells Fargo & Company MN increased its holdings in Seagate Technology by 83.2% in the fourth quarter. Wells Fargo & Company MN now holds 1,014,075 shares of the data storage provider’s stock, valued at $86,572,000, after acquiring an additional 460,599 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in Seagate Technology by 321.7% in the fourth quarter. Mizuho Markets Americas LLC now holds 586,120 shares of the data storage provider’s stock, valued at $50,037,000, after acquiring an additional 447,120 shares in the last quarter. Finally, Sanders Capital LLC increased its holdings in Seagate Technology by 3.0% in the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock valued at $1,322,053,000 after acquiring an additional 443,768 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.
What Wall Street analysts are saying
Several analysts have recently issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $110.00 price target on shares of Seagate Technology in a research report on Wednesday, June 5th. Morgan Stanley raised their rating on shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price target from $73.00 to $115.00 in a research report on Tuesday, March 26th. Wedbush raised their rating on shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Wednesday, May 1st. Citigroup initiated coverage on shares of Seagate Technology in a research report on Tuesday, May 14th. The firm set a “buy” rating and a $110.00 price target on the company. Finally, Loop Capital boosted their price objective on Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, June 4. Two investment 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, the company has an average rating of “hold” and a consensus price target of $98.29.
Read the latest Seagate Technology Report
Seagate Technology shares rose 0.7%
Shares of NASDAQ:STX opened trading at $102.04 on Friday. Seagate Technology Holdings plc has a 12-month low of $57.32 and a 12-month high of $107.91. The company’s 50-day moving average price is $96.98 and its 200-day moving average price is $90.78.
Seagate Technology (NASDAQ:STX – get free report ) announced its latest earnings results 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 business’s quarterly revenue was $1.66 billion, beating the consensus estimate of $1.68 billion. In the same quarter last year, the business’s EPS was ($0.43). Seagate Technology’s quarterly revenue was down 11.0% compared to the same quarter last year. Sell-side analysts expect Seagate Technology Holdings plc to post 0.44 EPS 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. This equates to an annualized dividend of $2.80, or a dividend yield of 2.74%. The ex-dividend date for this dividend was Thursday, June 20th. Seagate Technology has a dividend payout ratio of -217.05%.
Insider Trading at Seagate Technology
In other news, EVP, Ban Seng Teh 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 sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP, Ban Seng Teh 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 sale, the Executive Vice President now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be viewed on the SEC’s website. Additionally, SVP John Christopher Morris sold 5,928 shares of the company’s stock in a transaction that took place on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction value of $592,740.72. Following the completion of the sale, 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. In the last 90 days, insiders have sold 37,531 shares of the company’s stock, valued at $3,592,946. 0.89% of the stock is currently owned by company insiders.
Seagate Technology 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
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