Oppenheimer & Co. Inc. lifted its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 27.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,482 shares of the data storage provider's stock after purchasing an additional 4,427 shares during the period. Oppenheimer & Co. Inc.'s holdings in Seagate Technology were worth $1,740,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Stiles Financial Services Inc lifted its holdings in Seagate Technology by 8.1% in the first quarter. Stiles Financial Services Inc now owns 3,642 shares of the data storage provider's stock valued at $309,000 after buying an additional 272 shares during the period. PFG Investments LLC lifted its holdings in Seagate Technology by 6.8% in the first quarter. PFG Investments LLC now owns 7,958 shares of the data storage provider's stock valued at $676,000 after buying an additional 510 shares during the period. Blue Trust Inc. lifted its holdings in Seagate Technology by 12.7% in the first quarter. Blue Trust Inc. now owns 2,842 shares of the data storage provider's stock valued at $241,000 after buying an additional 320 shares during the period. Centennial Wealth Advisory LLC lifted its holdings in Seagate Technology by 22.8% in the first quarter. Centennial Wealth Advisory LLC now owns 3,753 shares of the data storage provider's stock valued at $319,000 after buying an additional 698 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in Seagate Technology by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 24,806 shares of the data storage provider's stock valued at $2,107,000 after buying an additional 690 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.
Insiders Place Their Bets
In other news, CEO William D. Mosley sold 54,347 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $130.19, for a total transaction of $7,075,435.93. Following the completion of the transaction, the chief executive officer now directly owns 515,677 shares of the company's stock, valued at $67,135,988.63. This represents a 9.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 599 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $130.00, for a total transaction of $77,870.00. Following the transaction, the executive vice president now directly owns 10,329 shares of the company's stock, valued at $1,342,770. This represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 393,791 shares of company stock valued at $46,380,998. Corporate insiders own 0.81% of the company's stock.
Wall Street Analyst Weigh In
STX has been the topic of several research reports. Bank of America upped their price objective on shares of Seagate Technology from $135.00 to $145.00 and gave the company a "buy" rating in a report on Monday, June 9th. Wall Street Zen lowered shares of Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. UBS Group upped their price objective on shares of Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Mizuho dropped their price objective on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $119.42.
View Our Latest Stock Report on Seagate Technology
Seagate Technology Stock Up 0.5%
STX stock traded up $0.75 during trading on Friday, reaching $141.44. The stock had a trading volume of 4,650,838 shares, compared to its average volume of 3,131,479. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $142.47. The company's 50 day moving average is $111.34 and its two-hundred day moving average is $97.53. The company has a market capitalization of $30.02 billion, a price-to-earnings ratio of 20.44 and a beta of 1.40.
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 (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. 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 prior year, the firm posted $0.33 EPS. The firm's quarterly revenue was up 30.5% compared to the same quarter last year. As a group, research analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.
Seagate Technology declared that its board has authorized a share buyback 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 often a sign that the company's leadership believes its shares are undervalued.
Seagate Technology Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's payout ratio is 41.62%.
Seagate Technology 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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