Lbp Am Sa Has $9.21 Million Holdings in Seagate Technology Holdings PLC (NASDAQ:STX)

LBP AM SA trimmed its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,392 shares of the data storage provider's stock after selling 9,846 shares during the quarter. LBP AM SA owned about 0.05% of Seagate Technology worth $9,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. lifted its holdings in shares of Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after buying an additional 112 shares during the period. Signaturefd LLC increased its position in shares of Seagate Technology by 2.3% in the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock valued at $431,000 after buying an additional 113 shares in the last quarter. 1620 Investment Advisors Inc. increased its position in shares of Seagate Technology by 2.6% in the fourth quarter. 1620 Investment Advisors Inc. now owns 4,835 shares of the data storage provider's stock valued at $417,000 after buying an additional 123 shares in the last quarter. Level Four Advisory Services LLC increased its position in shares of Seagate Technology by 4.1% in the fourth quarter. Level Four Advisory Services LLC now owns 3,343 shares of the data storage provider's stock valued at $289,000 after buying an additional 131 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Seagate Technology by 0.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock valued at $1,327,000 after buying an additional 134 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Up 1.9%

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. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $152.16. The stock has a market capitalization of $31.23 billion, a price-to-earnings ratio of 21.27 and a beta of 1.45. The firm has a 50 day moving average price of $124.06 and a 200-day moving average price of $101.44.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results 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. 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 the consensus estimate of $2.14 billion. During the same period in the previous year, the business earned $0.33 EPS. The business's quarterly revenue 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 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 firm 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. The ex-dividend date was Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 1.96%. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on STX shares. Wall Street Zen cut Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. The Goldman Sachs Group assumed coverage on Seagate Technology in a research report on Thursday. They set a "buy" rating and a $170.00 price objective for the company. Morgan Stanley lifted their price objective on Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Mizuho dropped their price objective on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. Finally, Barclays lifted their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average price target of $125.53.

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.