Bank of New York Mellon Corp Has $86.53 Million Stock Position in Seagate Technology Holdings PLC (NASDAQ:STX)

Bank of New York Mellon Corp reduced its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,018,641 shares of the data storage provider's stock after selling 44,016 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of Seagate Technology worth $86,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the last quarter. Sanders Capital LLC raised its holdings in Seagate Technology by 1.0% during the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock worth $1,426,717,000 after purchasing an additional 162,561 shares during the last quarter. Capital Research Global Investors raised its holdings in Seagate Technology by 56.5% during the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock worth $1,348,262,000 after purchasing an additional 5,640,443 shares during the last quarter. Geode Capital Management LLC raised its holdings in Seagate Technology by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock worth $370,013,000 after purchasing an additional 132,713 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Seagate Technology by 14.6% during the 4th quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock worth $238,348,000 after purchasing an additional 352,300 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 63,418 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $125.00, for a total transaction of $7,927,250.00. Following the completion of the transaction, the executive vice president owned 14,658 shares of the company's stock, valued at $1,832,250. This represents a 81.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 70,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $109.47, for a total value of $7,662,900.00. Following the transaction, the chief executive officer directly owned 485,677 shares of the company's stock, valued at approximately $53,167,061.19. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 393,791 shares of company stock worth $47,582,998. Insiders own 0.81% of the company's stock.

Seagate Technology Stock Performance

Shares of STX opened at $144.50 on Friday. The stock has a 50 day simple moving average of $122.98 and a 200 day simple moving average of $100.86. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $152.16. The firm has a market capitalization of $30.67 billion, a PE ratio of 20.88 and a beta of 1.45.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (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 during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the firm earned $0.33 EPS. Seagate Technology's quarterly revenue was up 30.5% compared to the same quarter last year. Equities research analysts predict that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology declared that its board has authorized a share repurchase program on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is currently 41.62%.

Wall Street Analyst Weigh In

Several analysts have weighed in on STX shares. Cantor Fitzgerald boosted their price objective on Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Barclays boosted their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Citigroup upped their price target on Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Bank of America upped their price target on Seagate Technology from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $140.00 price target on shares of Seagate Technology in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $123.16.

Seagate Technology Company 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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings PLC (NASDAQ:STX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.