ING Groep NV Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

ING Groep NV acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,334 shares of the data storage provider's stock, valued at approximately $1,565,000.

Several other hedge funds also recently bought and sold shares of STX. New York State Common Retirement Fund lifted its holdings in shares of Seagate Technology by 68.8% in the 4th quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider's stock worth $12,212,000 after buying an additional 58,300 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider's stock worth $1,166,022,000 after buying an additional 1,485,937 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Seagate Technology by 8.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider's stock worth $593,000 after buying an additional 561 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of Seagate Technology during the 4th quarter worth $230,000. Finally, Gotham Asset Management LLC lifted its stake in shares of Seagate Technology by 51.1% during the 3rd quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider's stock worth $5,717,000 after purchasing an additional 29,323 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Activity at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the company's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the sale, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the transaction, the executive vice president now directly owns 15,185 shares in the company, valued at approximately $1,442,575. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the transaction, the senior vice president now owns 17,767 shares of the company's stock, valued at $1,599,030. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Seagate Technology Stock Up 1.1 %

Shares of STX stock traded up $1.07 during trading hours on Wednesday, hitting $94.67. 2,129,021 shares of the company's stock were exchanged, compared to its average volume of 2,715,479. The firm has a market cap of $19.88 billion, a P/E ratio of -73.39, a P/E/G ratio of 198.04 and a beta of 1.06. The firm has a 50 day moving average of $89.41 and a two-hundred day moving average of $85.86. Seagate Technology Holdings plc has a fifty-two week low of $57.06 and a fifty-two week high of $101.26.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the company posted ($0.43) earnings per share. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. On average, equities analysts forecast that Seagate Technology Holdings plc will post 0.4 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, June 20th. Seagate Technology's dividend payout ratio is currently -217.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI assumed coverage on Seagate Technology in a research note on Tuesday, February 27th. They set an "outperform" rating and a $110.00 price objective for the company. Wedbush upgraded Seagate Technology from a "neutral" rating to an "outperform" rating and set a $100.00 price objective for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group upped their price objective on Seagate Technology from $84.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 24th. Wells Fargo & Company upped their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 1st. Finally, Mizuho reiterated a "buy" rating and issued a $100.00 price target on shares of Seagate Technology in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of "Hold" and an average price target of $95.50.

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.