Tidal Investments LLC grew its stake in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 133.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,681 shares of the data storage provider’s stock after purchasing an additional 7,240 shares during the period. Tidal Investments LLC’s holdings in Seagate Technology were worth $1,094,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Berkshire Bank grew its holdings in Seagate Technology by 2.6% during the fourth quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock worth $355,000 after acquiring an additional 103 shares during the period. MWA Asset Management grew its holdings in Seagate Technology by 0.5% during the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider’s stock worth $1,695,000 after acquiring an additional 104 shares during the period. Johnson Financial Group Inc. grew its holdings in Seagate Technology by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after acquiring an additional 112 shares during the period. JFS Wealth Advisors LLC grew its holdings in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 113 shares during the period. Finally, Signaturefd LLC grew its holdings in Seagate Technology by 2.3% during the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider’s stock worth $431,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.
Seagate Technology Trading Up 3.6%
NASDAQ STX opened at $112.74 on Monday. The business’s 50-day moving average price is $86.62 and its 200 day moving average price is $92.58. Seagate Technology Holdings plc has a twelve month low of $63.19 and a twelve month high of $115.32. The company has a market capitalization of $23.93 billion, a PE ratio of 20.61 and a beta of 1.32.
Seagate Technology (NASDAQ:STX – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. Equities analysts predict that Seagate Technology Holdings plc will post 6.83 EPS for the current year.
Seagate Technology announced that its board has initiated a share repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in 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 typically an indication that the company’s board believes its shares are undervalued.
Seagate Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.55%. Seagate Technology’s dividend payout ratio (DPR) is 41.62%.
Insider Transactions at Seagate Technology
In other news, SVP Kian Fatt Chong sold 6,410 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $111.26, for a total value of $713,176.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William D. Mosley sold 70,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 485,677 shares of the company’s stock, valued at approximately $53,167,061.19. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,856 shares of company stock worth $11,202,861 in the last three months. 0.81% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of analysts have commented on STX shares. UBS Group boosted their target price on Seagate Technology from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Citigroup boosted their target price on Seagate Technology from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Wedbush reiterated an “outperform” rating and set a $140.00 target price on shares of Seagate Technology in a research report on Wednesday, May 21st. Bank of America boosted their target price on Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays upped their price objective on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.37.
Check Out Our Latest Analysis on Seagate Technology
Seagate Technology Company Profile
(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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