Czech National Bank Buys 2,761 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Czech National Bank lifted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,625 shares of the data storage provider's stock after buying an additional 2,761 shares during the quarter. Czech National Bank's holdings in Seagate Technology were worth $4,131,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Spire Wealth Management grew its holdings in Seagate Technology by 5.6% in the fourth quarter. Spire Wealth Management now owns 2,430 shares of the data storage provider's stock worth $210,000 after purchasing an additional 129 shares during the period. CENTRAL TRUST Co grew its stake in Seagate Technology by 110.7% in the 4th quarter. CENTRAL TRUST Co now owns 948 shares of the data storage provider's stock valued at $82,000 after purchasing an additional 498 shares during the period. Greenwood Capital Associates LLC boosted its stake in Seagate Technology by 7.0% in the fourth quarter. Greenwood Capital Associates LLC now owns 17,158 shares of the data storage provider's stock valued at $1,481,000 after acquiring an additional 1,118 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Seagate Technology by 0.4% during the 4th quarter. Yousif Capital Management LLC now owns 27,594 shares of the data storage provider's stock valued at $2,382,000 after acquiring an additional 121 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Seagate Technology by 37.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,150 shares of the data storage provider's stock worth $1,760,000 after purchasing an additional 5,527 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Performance

Seagate Technology stock traded up $0.06 during mid-day trading on Thursday, hitting $127.70. 4,764,853 shares of the company traded hands, compared to its average volume of 3,015,548. Seagate Technology Holdings plc has a one year low of $63.19 and a one year high of $129.87. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 23.35 and a beta of 1.32. The stock has a fifty day moving average price of $91.63 and a 200-day moving average price of $93.74.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results 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 net margin of 14.67% and a negative return on equity of 63.48%. 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 business posted $0.33 earnings per share. Seagate Technology's revenue for the quarter was up 30.5% on a year-over-year basis. Sell-side analysts predict that Seagate Technology Holdings plc will post 6.83 EPS for the current year.

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

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.26%. Seagate Technology's payout ratio is 41.62%.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $117.01, for a total value of $87,757.50. Following the completion of the sale, the director now directly owns 5,055 shares in the company, valued at approximately $591,485.55. The trade was a 12.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 70,000 shares of the business'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 transaction of $7,662,900.00. Following the completion of the sale, the chief executive officer now owns 485,677 shares of the company's stock, valued at approximately $53,167,061.19. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,368 shares of company stock worth $35,537,051. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on STX shares. Wells Fargo & Company lifted their price target on shares of Seagate Technology from $105.00 to $122.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Bank of America lifted their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Morgan Stanley lifted their price target on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 price objective on shares of Seagate Technology in a report on Friday, May 23rd. Finally, BNP Paribas Exane upgraded shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 target price for the company in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.89.

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.