Seagate Technology Holdings PLC (NASDAQ:STX) Shares Bought by Alps Advisors Inc.

Alps Advisors Inc. raised its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 278,831 shares of the data storage provider's stock after acquiring an additional 25,817 shares during the period. Alps Advisors Inc. owned about 0.13% of Seagate Technology worth $23,687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new position in Seagate Technology during the 4th quarter worth $26,000. Elequin Capital LP acquired a new position in Seagate Technology during the 4th quarter valued at about $27,000. Fourth Dimension Wealth LLC acquired a new position in Seagate Technology during the 4th quarter valued at about $27,000. Wayfinding Financial LLC bought a new position in shares of Seagate Technology during the 1st quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC lifted its position in shares of Seagate Technology by 2,200.0% during the 1st 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 in the last quarter. Institutional investors own 92.87% of the company's stock.

Analysts Set New Price Targets

STX has been the topic of a number of research reports. Morgan Stanley lifted their price target on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Wedbush restated an "outperform" rating and set a $140.00 price target on shares of Seagate Technology in a research report on Wednesday, May 21st. Rosenblatt Securities restated a "buy" rating and set a $130.00 price target on shares of Seagate Technology in a research report on Friday, May 23rd. Finally, Bank of America boosted their price target on shares of Seagate Technology from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.53.

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 26,816 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $117.58, for a total transaction of $3,153,025.28. Following the completion of the transaction, the chief financial officer owned 38,082 shares in the company, valued at $4,477,681.56. The trade was a 41.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 70,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $109.47, for a total value of $7,662,900.00. Following the transaction, the chief executive officer owned 485,677 shares of the company's stock, valued at $53,167,061.19. This trade represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,791 shares of company stock worth $47,582,998 over the last three months. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded up $3.01 during trading hours on Friday, reaching $147.51. The company's stock had a trading volume of 1,799,681 shares, compared to its average volume of 3,233,451. The stock has a market cap of $31.30 billion, a P/E ratio of 21.29 and a beta of 1.45. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $152.16. The firm has a 50 day moving average price of $122.98 and a 200-day moving average price of $100.86.

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, topping the consensus estimate 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 company had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm's revenue for the quarter was up 30.5% 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 fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 1.95%. Seagate Technology's payout ratio is currently 41.62%.

Seagate Technology declared that its Board of Directors has authorized a share buyback plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the data storage provider to repurchase up to 21.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.