ING Groep NV Buys Shares of 18,334 Seagate Technology Holdings plc (NASDAQ:STX)

ING Groep NV purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 18,334 shares of the data storage provider’s stock, valued at approximately $1,565,000.

A number of other institutional investors and hedge funds have also made changes to their positions in STX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Seagate Technology during the 4th quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $28,000. Northwest Financial Advisors purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $31,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Mizuho restated a “buy” rating and issued a $100.00 target price on shares of Seagate Technology in a report on Tuesday, April 9th. Robert W. Baird increased their price target on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. The Goldman Sachs Group increased their price target on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Rosenblatt Securities increased their price target on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Susquehanna increased their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $95.50.

Insiders Place Their Bets

In related news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the transaction, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Seagate Technology Trading Down 3.3 %

NASDAQ:STX opened at $93.60 on Wednesday. The firm has a 50-day moving average price of $89.29 and a two-hundred day moving average price of $85.80. Seagate Technology Holdings plc has a twelve month low of $57.06 and a twelve month high of $101.26. The company has a market capitalization of $19.66 billion, a P/E ratio of -72.56, a price-to-earnings-growth ratio of 198.04 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business posted ($0.43) earnings per share. The business’s revenue was down 11.0% compared to the same quarter last year. On average, equities research analysts predict that Seagate Technology Holdings plc will post 0.4 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Thursday, June 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.99%. Seagate Technology’s dividend payout ratio is currently -217.05%.

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.