Legacy Capital Group California Inc. raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,004 shares of the data storage provider’s stock after acquiring an additional 291 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Seagate Technology were worth $619,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Panagora Asset Management Inc. raised its stake in Seagate Technology by 65.3% during the first quarter. Panagora Asset Management Inc. now owns 11,805 shares of the data storage provider’s stock worth $1,061,000 after buying an additional 4,663 shares during the last quarter. Rhumbline Advisers grew its position in shares of Seagate Technology by 0.6% during the 1st quarter. Rhumbline Advisers now owns 182,883 shares of the data storage provider’s stock worth $16,441,000 after buying an additional 1,037 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Seagate Technology by 4.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,946 shares of the data storage provider’s stock valued at $2,422,000 after acquiring an additional 1,237 shares during the period. Sei Investments Co. grew its holdings in Seagate Technology by 153.5% in the first quarter. Sei Investments Co. now owns 89,250 shares of the data storage provider’s stock worth $8,059,000 after purchasing an additional 54,038 shares during the period. Finally, Aviva PLC raised its holdings in shares of Seagate Technology by 44.3% during the first quarter. Aviva PLC now owns 95,541 shares of the data storage provider’s stock valued at $8,589,000 after purchasing an additional 29,329 shares during the period. Institutional investors and hedge funds own 85.26% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on STX. Susquehanna upped their target price on shares of Seagate Technology from $33.00 to $40.00 in a report on Thursday, July 27th. Wedbush reiterated a “neutral” rating and issued a $55.00 price objective on shares of Seagate Technology in a research note on Wednesday, September 6th. Mizuho upped their target price on Seagate Technology from $66.00 to $70.00 and gave the company a “buy” rating in a report on Friday, October 27th. Rosenblatt Securities upped their price objective on Seagate Technology from $68.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, The Goldman Sachs Group reduced their price target on shares of Seagate Technology from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.35.
Seagate Technology Stock Performance
NASDAQ:STX traded up $0.29 during trading hours on Friday, reaching $75.88. The company’s stock had a trading volume of 1,478,630 shares, compared to its average volume of 2,810,516. The firm has a 50-day simple moving average of $67.72 and a 200-day simple moving average of $64.43. Seagate Technology Holdings plc has a 1 year low of $48.94 and a 1 year high of $76.23. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of -21.25 and a beta of 1.04.
Seagate Technology (NASDAQ:STX – Get Free Report) last issued its earnings results on Thursday, October 26th. The data storage provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Seagate Technology had a negative net margin of 10.91% and a negative return on equity of 69.08%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company earned $0.37 earnings per share. The company’s revenue was down 28.6% compared to the same quarter last year. Equities analysts anticipate that Seagate Technology Holdings plc will post -0.37 earnings per share for the current fiscal year.
Seagate Technology Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Thursday, December 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date is Wednesday, December 20th. Seagate Technology’s payout ratio is -78.43%.
Insider Buying and Selling at Seagate Technology
In other Seagate Technology news, CEO William D. Mosley sold 200,000 shares of Seagate Technology stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $70.28, for a total transaction of $14,056,000.00. Following the sale, the chief executive officer now directly owns 616,309 shares of the company’s stock, valued at approximately $43,314,196.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William D. Mosley sold 200,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $70.28, for a total value of $14,056,000.00. Following the completion of the transaction, the chief executive officer now directly owns 616,309 shares in the company, valued at approximately $43,314,196.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gianluca Romano sold 16,982 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $73.34, for a total transaction of $1,245,459.88. Following the sale, the chief financial officer now directly owns 63,391 shares in the company, valued at approximately $4,649,095.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,530 shares of company stock valued at $16,036,111. 0.89% of the stock is currently owned by company insiders.
About Seagate Technology
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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