Allworth Financial LP boosted its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 363.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,754 shares of the data storage provider's stock after acquiring an additional 20,980 shares during the quarter. Allworth Financial LP's holdings in Seagate Technology were worth $2,222,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after buying an additional 1,814,821 shares in the last quarter. Sanders Capital LLC increased its position in shares of Seagate Technology by 1.0% in the fourth quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock valued at $1,426,717,000 after buying an additional 162,561 shares in the last quarter. Capital Research Global Investors increased its position in shares of Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after buying an additional 5,640,443 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Seagate Technology by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock valued at $370,013,000 after buying an additional 132,713 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock valued at $238,348,000 after buying an additional 352,300 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Seagate Technology
In other news, EVP Ban Seng Teh sold 1,725 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $144.00, for a total value of $248,400.00. Following the transaction, the executive vice president owned 12,052 shares in the company, valued at approximately $1,735,488. This represents a 12.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $144.66, for a total value of $2,893,200.00. Following the completion of the transaction, the chief executive officer owned 498,710 shares in the company, valued at approximately $72,143,388.60. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 395,516 shares of company stock worth $47,831,398. 0.81% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. BNP Paribas upgraded Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Wedbush restated an "outperform" rating and issued a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. Wall Street Zen cut Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target on the stock in a research note on Friday, May 16th. Finally, Cantor Fitzgerald lifted their price target on Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.00.
Check Out Our Latest Report on Seagate Technology
Seagate Technology Trading Down 1.3%
NASDAQ STX traded down $1.93 on Wednesday, reaching $147.12. 2,694,257 shares of the company were exchanged, compared to its average volume of 3,245,776. The business's fifty day moving average price is $126.27 and its 200 day moving average price is $102.20. The stock has a market capitalization of $31.22 billion, a P/E ratio of 21.26 and a beta of 1.45. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $152.16.
Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the company posted $0.33 EPS. The company's quarterly revenue was up 30.5% on a year-over-year basis. Equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.
Seagate Technology declared that its board has approved a share repurchase 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 stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.
Seagate Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th were issued a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 1.96%. Seagate Technology's dividend payout ratio is presently 41.62%.
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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