Seagate Technology Holdings PLC (NASDAQ:STX) Position Raised by SG Americas Securities LLC

SG Americas Securities LLC increased its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 293.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,491 shares of the data storage provider's stock after purchasing an additional 15,289 shares during the period. SG Americas Securities LLC's holdings in Seagate Technology were worth $1,741,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. purchased a new stake in Seagate Technology during the fourth quarter worth about $26,000. Elequin Capital LP acquired a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Seagate Technology during the 4th quarter worth approximately $27,000. JFS Wealth Advisors LLC grew its holdings in shares of Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after acquiring an additional 113 shares during the period. Finally, Human Investing LLC purchased a new position in Seagate Technology in the 4th quarter valued at approximately $48,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on STX shares. Wells Fargo & Company boosted their target price on Seagate Technology from $105.00 to $122.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Wedbush reissued an "outperform" rating and issued a $140.00 price objective on shares of Seagate Technology in a research note on Wednesday, May 21st. Barclays lifted their target price on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Finally, Wall Street Zen cut shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $119.42.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 4,201 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total value of $483,115.00. Following the transaction, the executive vice president now directly owns 22,999 shares in the company, valued at approximately $2,644,885. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kian Fatt Chong sold 6,410 shares of Seagate Technology stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $111.26, for a total transaction of $713,176.60. The disclosure for this sale can be found here. Insiders sold a total of 393,192 shares of company stock valued at $46,303,128 in the last ninety days. Insiders own 0.81% of the company's stock.

Seagate Technology Trading Down 0.1%

STX traded down $0.17 during midday trading on Tuesday, hitting $130.87. The company's stock had a trading volume of 3,410,792 shares, compared to its average volume of 3,077,920. Seagate Technology Holdings PLC has a 52-week low of $63.19 and a 52-week high of $133.55. The firm has a 50-day moving average price of $101.34 and a two-hundred day moving average price of $95.49. The firm has a market cap of $27.77 billion, a P/E ratio of 18.91 and a beta of 1.40.

Seagate Technology (NASDAQ:STX - Get Free Report) last released 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. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. Seagate Technology's revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 earnings per share. On average, equities analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

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 issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.20%. Seagate Technology's dividend payout ratio is currently 41.62%.

Seagate Technology declared that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the data storage provider to purchase up to 21.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership 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.