Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,542 shares of the data storage provider's stock after purchasing an additional 3,410 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Seagate Technology were worth $2,085,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of STX. Vanguard Group Inc. boosted its stake in shares of Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after purchasing an additional 1,814,821 shares in the last quarter. Sanders Capital LLC raised its holdings in Seagate Technology by 1.0% in 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 in the last quarter. Capital Research Global Investors grew its position in shares of Seagate Technology by 56.5% in 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 buying an additional 5,640,443 shares during the period. Geode Capital Management LLC grew its position in shares of Seagate Technology by 3.2% in 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 buying an additional 132,713 shares during the period. Finally, Invesco Ltd. grew its position in shares of Seagate Technology by 14.6% in the 4th quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock worth $238,348,000 after buying an additional 352,300 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on STX shares. BNP Paribas Exane raised shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price target on the stock in a report on Friday, May 16th. Barclays raised their target price on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Citigroup raised their target price on shares of Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $105.00 to $122.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. One equities 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $118.89.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now directly owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kian Fatt Chong sold 6,410 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $111.26, for a total value of $713,176.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 335,251 shares of company stock worth $38,760,472. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Price Performance

Seagate Technology stock traded down $0.73 during trading hours on Friday, reaching $126.97. The stock had a trading volume of 4,375,188 shares, compared to its average volume of 3,027,509. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $129.95. The company has a market cap of $26.95 billion, a price-to-earnings ratio of 23.21 and a beta of 1.32. The business's 50 day moving average price is $93.33 and its 200-day moving average price is $94.16.

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, beating analysts' consensus estimates of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm 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 firm earned $0.33 earnings per share. Seagate Technology's revenue for the quarter was up 30.5% on a year-over-year basis. On average, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders 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 yield of 2.27%. Seagate Technology's payout ratio is currently 41.62%.

Seagate Technology announced that its board has authorized a stock repurchase 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 reacquire up to 21.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.