Panoramic Capital LLC Invests $1.64 Million in Seagate Technology Holdings plc (NASDAQ:STX)

Panoramic Capital LLC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,000 shares of the data storage provider's stock, valued at approximately $1,640,000. Seagate Technology comprises approximately 0.9% of Panoramic Capital LLC's investment portfolio, making the stock its 28th largest holding.

Other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC increased its holdings in Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after buying an additional 113 shares in the last quarter. Human Investing LLC purchased a new position in Seagate Technology in the fourth quarter valued at $48,000. Mizuho Bank Ltd. increased its holdings in Seagate Technology by 140.0% in the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock valued at $52,000 after buying an additional 350 shares in the last quarter. Johnson Financial Group Inc. increased its holdings in Seagate Technology by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after buying an additional 112 shares in the last quarter. Finally, S.A. Mason LLC purchased a new position in Seagate Technology in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

Shares of STX stock traded up $0.36 during trading hours on Friday, hitting $107.79. The company had a trading volume of 3,233,263 shares, compared to its average volume of 2,915,595. The company's fifty day moving average is $84.56 and its 200 day moving average is $92.45. Seagate Technology Holdings plc has a fifty-two week low of $63.19 and a fifty-two week high of $115.32. The stock has a market capitalization of $22.87 billion, a PE ratio of 19.71 and a beta of 1.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.33 EPS. Equities analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 41.62%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STX. Wells Fargo & Company cut their price objective on shares of Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, April 30th. Morgan Stanley cut their target price on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research note on Tuesday, January 21st. Bank of America cut their target price on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Susquehanna boosted their target price on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a "negative" rating in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $120.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $114.11.

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.