Seagate Technology Holdings PLC (NASDAQ:STX) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,048 shares of the data storage provider's stock after buying an additional 2,839 shares during the period. National Bank of Canada FI owned approximately 0.06% of Seagate Technology worth $9,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in STX. Ameriflex Group Inc. purchased a new stake in Seagate Technology during the 4th quarter valued at about $26,000. Elequin Capital LP purchased a new stake in Seagate Technology during the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth about $27,000. Wayfinding Financial LLC purchased a new stake in shares of Seagate Technology in the first quarter worth about $31,000. Finally, Golden State Wealth Management LLC boosted its stake in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after buying an additional 440 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup upped their target price on Seagate Technology from $140.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. TD Cowen upped their target price on Seagate Technology from $135.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group assumed coverage on Seagate Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $170.00 price target on the stock. Wells Fargo & Company increased their price target on Seagate Technology from $122.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Finally, Susquehanna increased their price target on Seagate Technology from $68.00 to $80.00 and gave the stock a "negative" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $151.44.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 1,724 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $151.61, for a total value of $261,375.64. Following the completion of the transaction, the executive vice president directly owned 6,147 shares in the company, valued at approximately $931,946.67. This represents a 21.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the completion of the transaction, the chief executive officer owned 478,912 shares of the company's stock, valued at $73,632,720. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 430,270 shares of company stock worth $53,173,431 in the last three months. Company insiders own 0.81% of the company's stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $1.19 during midday trading on Thursday, hitting $155.73. The company had a trading volume of 2,319,565 shares, compared to its average volume of 3,929,370. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $158.00. The stock has a market cap of $33.12 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 0.99 and a beta of 1.50. The business's 50-day simple moving average is $144.11 and its 200-day simple moving average is $110.85.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%. The firm had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.40 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The business's revenue for the quarter was up 29.5% on a year-over-year basis. As a group, sell-side analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

Seagate Technology declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 22nd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the data storage provider to repurchase up to 21.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

About Seagate Technology

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.