DekaBank Deutsche Girozentrale Has $3.74 Million Position in Seagate Technology Holdings PLC (NASDAQ:STX)

DekaBank Deutsche Girozentrale increased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 20.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,704 shares of the data storage provider's stock after buying an additional 7,604 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Seagate Technology were worth $3,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of STX. Ameriflex Group Inc. acquired a new stake in Seagate Technology during the 4th quarter valued at $26,000. Elequin Capital LP acquired a new stake in Seagate Technology during the 4th quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new stake in Seagate Technology during the 4th quarter valued at $27,000. Wayfinding Financial LLC acquired a new stake in Seagate Technology during the 1st quarter valued at $31,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Seagate Technology by 2,200.0% in the 1st 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 period. Institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

STX stock traded up $2.68 during midday trading on Friday, hitting $147.18. 2,868,540 shares of the company's stock were exchanged, compared to its average volume of 3,248,448. The stock's fifty day moving average price is $124.06 and its 200-day moving average price is $101.35. The company has a market cap of $31.23 billion, a PE ratio of 21.27 and a beta of 1.45. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $152.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results 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 firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. The company's revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the previous year, the company 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 Announces Dividend

The company also recently declared 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 of this dividend was Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.96%. Seagate Technology's dividend payout ratio (DPR) is 41.62%.

Seagate Technology declared that its board has authorized a share buyback plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to purchase up to 21.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on STX. Wells Fargo & Company lifted their target price on Seagate Technology from $105.00 to $122.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. BNP Paribas raised Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 target price on shares of Seagate Technology in a research note on Friday, May 23rd. Barclays lifted their target price on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald lifted their target price on Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. One investment 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 stock currently has an average rating of "Moderate Buy" and an average target price of $125.53.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $117.01, for a total value of $87,757.50. Following the sale, the director directly owned 5,055 shares in the company, valued at $591,485.55. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephanie Tilenius sold 2,693 shares of the business's stock in a transaction dated 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 sale, the director owned 12,244 shares in the company, valued at approximately $1,567,721.76. This trade represents a 18.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 393,791 shares of company stock valued at $47,582,998. 0.81% of the stock is currently owned by company insiders.

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.