3,200 Shares in Seagate Technology Holdings PLC (NASDAQ:STX) Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. bought a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,200 shares of the data storage provider's stock, valued at approximately $272,000.

Other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in shares of Seagate Technology during the 4th quarter worth $26,000. Elequin Capital LP purchased a new position in Seagate Technology in the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC acquired a new stake in Seagate Technology during the 4th quarter worth about $27,000. Wayfinding Financial LLC purchased a new stake in Seagate Technology during the first quarter valued at about $31,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after buying an additional 440 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Down 0.3%

NASDAQ:STX opened at $146.72 on Friday. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $152.16. The firm's fifty day simple moving average is $128.31 and its 200 day simple moving average is $102.93. The firm has a market capitalization of $31.14 billion, a PE ratio of 21.20 and a beta of 1.45.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. The firm's revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th were issued a dividend of $0.72 per share. The ex-dividend date was Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 1.96%. Seagate Technology's payout ratio is 41.62%.

Insider Activity at Seagate Technology

In other news, Director Stephanie Tilenius sold 2,693 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $128.04, for a total value of $344,811.72. Following the completion of the transaction, the director owned 12,244 shares in the company, valued at approximately $1,567,721.76. This represents a 18.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $144.66, for a total transaction of $2,893,200.00. Following the completion of the transaction, the chief executive officer directly owned 498,710 shares of the company's stock, valued at $72,143,388.60. This trade represents a 3.86% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 395,516 shares of company stock worth $47,831,398. Company insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STX. Cantor Fitzgerald raised their target price on Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 target price on the stock in a research note on Friday, May 16th. UBS Group upped their target price on Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Barclays raised their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Finally, Bank of America upped their price objective on shares of Seagate Technology from $145.00 to $165.00 and gave the company a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $130.00.

Seagate Technology Profile

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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