Kwmg LLC Increases Position in Seagate Technology Holdings plc (NASDAQ:STX)

Kwmg LLC grew its position in Seagate Technology Holdings plc (NASDAQ:STX) by 0.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,080 shares of the data storage provider’s stock after acquiring an additional 146 shares during the period. Kwmg LLC’s holdings in Seagate Technology were worth $6,056,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $26,000. CVA Family Office LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust increased its holdings in shares of Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after buying an additional 205 shares during the last quarter. Finally, Northwest Financial Advisors acquired a new stake in shares of Seagate Technology during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of several research reports. Evercore ISI initiated coverage on shares of Seagate Technology in a report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 target price for the company. UBS Group lifted their target price on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Cantor Fitzgerald lifted their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Barclays decreased their price target on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Finally, Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $98.29.

Seagate Technology Stock Down 1.0 %

Seagate Technology stock traded down $1.08 during trading hours on Wednesday, hitting $102.66. 1,206,263 shares of the company traded hands, compared to its average volume of 2,666,773. The firm’s 50-day simple moving average is $94.21 and its two-hundred day simple moving average is $89.83. Seagate Technology Holdings plc has a 1-year low of $57.32 and a 1-year high of $107.91.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.43) EPS. On average, analysts expect that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.73%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Insiders Place Their Bets

In related news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction 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 $1,599,030. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on 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 directly owns 17,767 shares in the company, valued at $1,599,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of the business’s 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 transaction, the executive vice president now directly owns 15,185 shares in the company, valued at approximately $1,442,575. The disclosure for this sale can be found here. Insiders sold a total of 37,531 shares of company stock worth $3,592,946 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

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.