Bell Bank Has $6.90 Million Position in Seagate Technology Holdings plc (NASDAQ:STX)

Bell Bank grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,170 shares of the data storage provider's stock after acquiring an additional 4,328 shares during the period. Bell Bank's holdings in Seagate Technology were worth $6,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Johnson Financial Group Inc. raised its holdings in shares of Seagate Technology by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock worth $52,000 after purchasing an additional 112 shares during the period. JFS Wealth Advisors LLC increased its stake in shares of Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after acquiring an additional 113 shares during the period. Signaturefd LLC raised its position in Seagate Technology by 2.3% in the fourth quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock worth $431,000 after acquiring an additional 113 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Seagate Technology by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,098 shares of the data storage provider's stock valued at $1,562,000 after purchasing an additional 120 shares during the last quarter. Finally, 1620 Investment Advisors Inc. boosted its stake in shares of Seagate Technology by 2.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 4,835 shares of the data storage provider's stock worth $417,000 after acquiring an additional 123 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wells Fargo & Company upped their price objective on shares of Seagate Technology from $105.00 to $122.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Wedbush reissued an "outperform" rating and issued a $140.00 price target on shares of Seagate Technology in a research report on Wednesday, May 21st. Cantor Fitzgerald increased 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. Finally, Barclays upped their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and an average price target of $119.42.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 70,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $109.47, for a total transaction of $7,662,900.00. Following the completion of the transaction, the chief executive officer now directly owns 485,677 shares of the company's stock, valued at $53,167,061.19. This represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 3,594 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $130.00, for a total transaction of $467,220.00. Following the completion of the sale, the executive vice president now directly owns 11,064 shares in the company, valued at approximately $1,438,320. This represents a 24.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 393,192 shares of company stock worth $46,303,128 in the last quarter. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Stock Performance

STX traded down $0.17 during midday trading on Tuesday, hitting $130.87. The company had a trading volume of 3,410,792 shares, compared to its average volume of 3,077,920. The firm's 50-day simple moving average is $100.20 and its 200-day simple moving average is $95.24. Seagate Technology Holdings plc has a twelve month low of $63.19 and a twelve month high of $133.55. The company has a market capitalization of $27.77 billion, a PE ratio of 23.93 and a beta of 1.40.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The company's revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 41.62%.

Seagate Technology declared that its Board of Directors has approved a share repurchase plan on Thursday, May 22nd that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors 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.