International Assets Investment Management LLC Takes $201,000 Position in Seagate Technology Holdings PLC (NASDAQ:STX)

International Assets Investment Management LLC purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,367 shares of the data storage provider's stock, valued at approximately $201,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. acquired a new position in Seagate Technology during the 4th quarter worth $26,000. Elequin Capital LP acquired a new position in Seagate Technology in the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new stake in Seagate Technology in the fourth quarter valued at about $27,000. Menard Financial Group LLC acquired a new stake in Seagate Technology during the fourth quarter valued at approximately $50,000. Finally, Mizuho Bank Ltd. raised its stake in Seagate Technology by 140.0% during the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock valued at $52,000 after buying an additional 350 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $141.44 on Friday. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $142.47. The business's fifty day moving average price is $111.34 and its two-hundred day moving average price is $97.52. The company has a market capitalization of $30.02 billion, a P/E ratio of 20.44 and a beta of 1.40.

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 for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. On average, research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

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

Seagate Technology Dividend Announcement

The business 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. This represents a $2.88 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Insider Activity at Seagate Technology

In related news, SVP Kian Fatt Chong sold 6,410 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $111.26, for a total transaction of $713,176.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 599 shares of Seagate Technology stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $130.00, for a total transaction of $77,870.00. Following the completion of the transaction, the executive vice president now owns 10,329 shares in the company, valued at approximately $1,342,770. This trade represents a 5.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,791 shares of company stock worth $46,380,998 over the last quarter. 0.81% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research analyst reports. Wall Street Zen downgraded Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Citigroup boosted their target price on shares of Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Barclays increased their target price on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Mizuho decreased their price target on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Finally, BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price of $119.42.

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.

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