The Manufacturers Life Insurance Company increased its stake in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,111 shares of the data storage provider’s stock after purchasing an additional 1,419 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Seagate Technology worth $11,620,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its stake in 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 purchasing an additional 58,300 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in 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 purchasing an additional 1,485,937 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in 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 purchasing an additional 561 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in Seagate Technology during the 4th quarter worth approximately $230,000. Finally, Sanders Capital LLC raised its position in Seagate Technology by 3.0% during the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after buying an additional 443,768 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Seagate Technology Stock Performance
Seagate Technology stock opened at $99.52 on Tuesday. The company’s fifty day moving average price is $90.75 and its 200 day moving average price is $87.83. Seagate Technology Holdings plc has a 1 year low of $57.32 and a 1 year high of $101.26. The stock has a market capitalization of $20.90 billion, a P/E ratio of -77.15 and a beta of 1.03.
Seagate Technology (NASDAQ:STX – Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company 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 business posted ($0.43) EPS. Seagate Technology’s revenue was down 11.0% compared to the same quarter last year. Sell-side analysts predict that Seagate Technology Holdings plc will post 0.4 EPS for the current year.
Seagate Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is -217.05%.
Insider Transactions at Seagate Technology
In other news, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the sale, the executive vice president now owns 15,185 shares of the company’s stock, valued at $1,442,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were 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 owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on STX. Mizuho raised their price target on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. Loop Capital raised their price target on shares of Seagate Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Susquehanna raised their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group raised their price target on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.29.
View Our Latest Stock Report on Seagate Technology
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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