Vest Financial LLC Has $604,000 Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Vest Financial LLC raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 43.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,112 shares of the data storage provider's stock after buying an additional 2,162 shares during the period. Vest Financial LLC's holdings in Seagate Technology were worth $604,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new position in shares of Seagate Technology in the fourth quarter valued at $26,000. Elequin Capital LP bought a new stake in Seagate Technology during the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC bought a new stake in Seagate Technology during the 4th quarter worth approximately $27,000. JFS Wealth Advisors LLC increased its holdings in Seagate Technology by 27.0% during the 4th 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, Human Investing LLC bought a new stake in Seagate Technology during the fourth quarter worth $48,000. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on STX shares. Bank of America upped their price target on Seagate Technology from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Cantor Fitzgerald upped their price target on Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Wall Street Zen downgraded Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley lifted their target price on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Wedbush restated an "outperform" rating and issued a $140.00 target price on shares of Seagate Technology in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.89.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $126.97 on Monday. The stock has a market capitalization of $26.95 billion, a P/E ratio of 23.21 and a beta of 1.40. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $129.96. The stock's 50-day simple moving average is $93.33 and its 200 day simple moving average is $94.09.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly 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 quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Equities research analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business 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 $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Seagate Technology declared that its board has approved a stock buyback program on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to purchase up to 21.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $117.01, for a total transaction of $87,757.50. Following the sale, the director now owns 5,055 shares of the company's stock, valued at approximately $591,485.55. This represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephanie Tilenius sold 2,693 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $128.04, for a total transaction of $344,811.72. Following the completion of the transaction, the director now directly owns 12,244 shares of the company's stock, valued at approximately $1,567,721.76. The trade was a 18.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 335,251 shares of company stock valued at $38,760,472. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Company 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.

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