Tidal Investments LLC raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 133.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 12,681 shares of the data storage provider's stock after purchasing an additional 7,240 shares during the period. Tidal Investments LLC's holdings in Seagate Technology were worth $1,094,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Berkshire Bank lifted its stake in shares of Seagate Technology by 2.6% during the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider's stock valued at $355,000 after buying an additional 103 shares in the last quarter. MWA Asset Management lifted its position in shares of Seagate Technology by 0.5% in the fourth quarter. MWA Asset Management now owns 19,636 shares of the data storage provider's stock valued at $1,695,000 after acquiring an additional 104 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in shares of Seagate Technology by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock worth $52,000 after acquiring an additional 112 shares during the period. JFS Wealth Advisors LLC grew its position 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 worth $46,000 after purchasing an additional 113 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Seagate Technology by 2.3% during the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock valued at $431,000 after purchasing an additional 113 shares during the period. Institutional investors own 92.87% of the company's stock.
Seagate Technology Price Performance
Shares of STX traded up $0.44 during mid-day trading on Friday, reaching $118.58. 791,098 shares of the company's stock traded hands, compared to its average volume of 2,977,205. The stock's 50-day moving average is $88.83 and its two-hundred day moving average is $93.09. Seagate Technology Holdings plc has a 12 month low of $63.19 and a 12 month high of $119.05. The stock has a market cap of $25.16 billion, a P/E ratio of 21.74 and a beta of 1.32.
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 analysts' consensus estimates of $1.75 by $0.15. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The business's revenue was up 30.5% on a year-over-year basis. Research analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.
Seagate Technology Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's payout ratio is 41.62%.
Seagate Technology declared that its board has approved a stock repurchase program on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Analyst Ratings Changes
Several research analysts have weighed in on STX shares. UBS Group upped their price target on Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Bank of America raised their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Wells Fargo & Company boosted their price target on shares of Seagate Technology from $105.00 to $122.00 and gave the stock an "equal weight" rating in a research note on Friday, May 23rd. Wedbush restated an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. Finally, Barclays boosted their target price 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $118.89.
Get Our Latest Stock Analysis on STX
Insiders Place Their Bets
In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Judy Bruner sold 10,446 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $108.71, for a total value of $1,135,584.66. Following the sale, the director now owns 12,268 shares of the company's stock, valued at $1,333,654.28. This trade represents a 45.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,057 shares of company stock worth $11,685,976 in the last three months. Corporate insiders own 0.81% of the company's stock.
Seagate Technology Company Profile
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Free Report)
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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