Sei Investments Co. reduced its holdings in Seagate Technology Holdings plc (NASDAQ:STX – free report ) by 35.0% during the first quarter, according to the latest filing with the SEC. The firm now holds 10,837 shares of the data storage provider’s stock, 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 are also buying and selling shares in the company. Forsta AP Fonden increased its holdings in Seagate Technology by 9.0% in the first quarter. The firm purchased an additional 3,700 shares during the period and now owns 44,700 shares, valued at $4,159,000. Illinois Municipal Retirement Fund increased its holdings in Seagate Technology by 15.7% in the first quarter. Illinois Municipal Retirement Fund purchased an additional 8,242 shares during the period and now owns 60,702 shares, valued at $5,648,000. Oppenheimer & Company increased its holdings in Seagate Technology by 29.3% in the first quarter. Oppenheimer & Co. Inc. now owns 20,973 shares of the data storage provider’s stock valued at $1,952,000 after purchasing an additional 4,752 shares during the period. Hilltop National Bank purchased a new stake in Seagate Technology during the first quarter valued at approximately $1,112,000. Finally, SG Americas Securities LLC increased its holdings in Seagate Technology shares by 68.1% during the first 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 Rating Changes
A number of research firms have commented on STX recently. Bank of America reaffirmed their “buy” rating on shares of Seagate Technology with a $110 price target in a research note on Wednesday, June 5. StockNews.com raised their rating on Seagate Technology from a “hold” to a “buy” rating in a research note on Friday. Loop Capital raised their price target on Seagate Technology from $105 to $135 and gave the company a “buy” rating in a research note on Wednesday. UBS Group raised their price target on Seagate Technology from $110 to $120 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Northland Securities raised their price target on Seagate Technology from $119 to $142 and gave the company an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock as a sell, seven have rated it as a hold, and twelve have rated it as a buy. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.94.
Read the latest report on STX
Seagate Technology shares fell 0.3%
Seagate Technology shares opened trading at $103.68 on Friday. The company has a market capitalization of $21.77 billion, a price-to-earnings ratio of -80.37 and a beta of 1.02. The stock’s 50-day simple moving average is $101.31 and its 200-day simple moving average is $93.16. Seagate Technology Holdings plc’s low over the past 12 months is $57.79 and its high over the past 12 months is $113.57.
Seagate Technology (NASDAQ:STX – get free report ) last announced its earnings results on Tuesday, July 23rd. The data storage provider posted quarterly EPS of $1.05, beating analysts’ consensus estimates of $0.76 by $0.29. The company’s quarterly revenue was $1.89 billion, beating analysts’ estimates of $1.87 billion. Seagate Technology’s ROE was -8.41%, with a net margin of 5.11%. The company’s quarterly revenue grew 17.8% year-over-year. Year-over-year EPS was $(0.29). Equity research analysts on average expect Seagate Technology Holdings plc to post EPS of $5.65 for the current fiscal year.
Seagate Technology announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a $0.70 dividend. This equates to an annualized dividend of $2.80 and a dividend yield of 2.70%. The ex-dividend date for this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.
Insider trading
In related news, SVP John Christopher Morris sold 5,928 shares of Seagate Technology 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 sale was disclosed in a Securities and Exchange Commission filing, which can be accessed 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 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 sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through this link. Additionally, EVP, Ban Seng Teh sold 9,703 shares of Seagate Technology 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 sale, the Senior 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. In the last 90 days, insiders have sold 47,648 shares of the company’s stock, valued at $4,705,816. Company insiders own 0.89% of the company’s shares.
About Seagate Technology
(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.
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