AustralianSuper Pty Ltd lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 24.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 22,546 shares of the data storage provider's stock after acquiring an additional 4,386 shares during the quarter. AustralianSuper Pty Ltd's holdings in Seagate Technology were worth $1,915,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new position in Seagate Technology in the fourth quarter worth $26,000. Elequin Capital LP purchased a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $27,000. Wayfinding Financial LLC purchased a new stake in shares of Seagate Technology during the first quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Seagate Technology by 2,200.0% during the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after buying an additional 440 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Seagate Technology
In related news, Director Stephanie Tilenius sold 2,693 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $128.04, for a total transaction of $344,811.72. Following the completion of the transaction, the director directly owned 12,244 shares of the company's stock, valued at $1,567,721.76. This represents a 18.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael R. Cannon sold 24,190 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $119.00, for a total transaction of $2,878,610.00. Following the transaction, the director directly owned 10,835 shares of the company's stock, valued at $1,289,365. This represents a 69.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 395,516 shares of company stock valued at $47,831,398 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
STX has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a research note on Thursday. Wedbush reiterated an "outperform" rating and issued a $140.00 price target on shares of Seagate Technology in a report on Wednesday, May 21st. Bank of America lifted their target price on Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Monday, July 14th. BNP Paribas raised Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Barclays boosted their target price on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. One 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. According to MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average price target of $130.00.
Check Out Our Latest Stock Report on STX
Seagate Technology Stock Up 1.6%
NASDAQ:STX opened at $149.07 on Friday. The company has a fifty day simple moving average of $129.38 and a two-hundred day simple moving average of $103.48. The company has a market cap of $31.64 billion, a price-to-earnings ratio of 21.54 and a beta of 1.45. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $152.16.
Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The company's revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.
Seagate Technology declared that its Board of Directors has authorized a share buyback program on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to purchase up to 21.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.
Seagate Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th were issued a $0.72 dividend. The ex-dividend date was Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.93%. Seagate Technology's payout ratio is 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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