NorthCrest Asset Manangement LLC acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,055 shares of the data storage provider's stock, valued at approximately $939,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC raised its position in shares of Seagate Technology by 460.8% during the 4th quarter. Empowered Funds LLC now owns 18,361 shares of the data storage provider's stock valued at $1,585,000 after buying an additional 15,087 shares in the last quarter. Savant Capital LLC raised its position in shares of Seagate Technology by 20.3% during the 4th quarter. Savant Capital LLC now owns 4,612 shares of the data storage provider's stock valued at $398,000 after buying an additional 779 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Seagate Technology by 14.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,185 shares of the data storage provider's stock worth $966,000 after purchasing an additional 1,390 shares during the period. Asset Management One Co. Ltd. raised its position in Seagate Technology by 9.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock worth $7,360,000 after purchasing an additional 7,599 shares during the period. Finally, Vontobel Holding Ltd. raised its position in Seagate Technology by 61.7% in the 4th quarter. Vontobel Holding Ltd. now owns 5,090 shares of the data storage provider's stock worth $439,000 after purchasing an additional 1,942 shares during the period. 92.87% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Seagate Technology news, EVP Ban Seng Teh sold 3,594 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $130.00, for a total value of $467,220.00. Following the sale, the executive vice president now owns 11,064 shares of the company's stock, valued at $1,438,320. This represents a 24.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. This represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 393,192 shares of company stock worth $46,303,128 over the last 90 days. 0.81% of the stock is owned by insiders.
Seagate Technology Stock Performance
Shares of STX stock traded up $1.20 on Friday, reaching $127.27. 3,000,832 shares of the company were exchanged, compared to its average volume of 3,074,767. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 23.27 and a beta of 1.40. The business has a 50-day moving average price of $98.91 and a 200 day moving average price of $95.07. Seagate Technology Holdings plc has a 1 year low of $63.19 and a 1 year high of $132.23.
Seagate Technology (NASDAQ:STX - Get Free Report) last released its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The company's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, equities analysts anticipate that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.
Seagate Technology declared that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.
Seagate Technology Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.26%. Seagate Technology's dividend payout ratio is currently 41.62%.
Analyst Ratings Changes
A number of brokerages recently commented on STX. Rosenblatt Securities reiterated a "buy" rating and issued a $130.00 target price on shares of Seagate Technology in a research report on Friday, May 23rd. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Bank of America lifted their target price on shares of Seagate Technology from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Mizuho decreased their target price on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Finally, Citigroup raised their price target on shares of Seagate Technology from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and an average price target of $119.42.
Read Our Latest Report on STX
About Seagate Technology
(
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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