Seagate Technology Holdings plc (NASDAQ:STX) Shares Purchased by SVB Wealth LLC

SVB Wealth LLC grew its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 18.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 6,273 shares of the data storage provider’s stock after purchasing an additional 987 shares during the quarter. SVB Wealth LLC’s holdings in Seagate Technology were worth $584,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of STX. New York State Common Retirement Fund grew its holdings in Seagate Technology by 68.8% during the fourth quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock worth $12,212,000 after acquiring an additional 58,300 shares during the period. Stratos Wealth Partners LTD. lifted its stake in Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after purchasing an additional 561 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in Seagate Technology during the fourth quarter worth approximately $230,000. Bessemer Group Inc. grew its position in Seagate Technology by 68.7% in the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after buying an additional 7,150 shares during the last quarter. Finally, Chapin Davis Inc. increased its holdings in shares of Seagate Technology by 210.8% in the first quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock valued at $2,713,000 after buying an additional 19,773 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 9,703 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction dated 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 directly owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,648 shares of company stock valued at $4,705,816. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays lifted their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Rosenblatt Securities boosted their price objective on Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley raised their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group boosted their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $115.94.

Seagate Technology Trading Down 0.3 %

NASDAQ:STX traded down $0.30 during mid-day trading on Monday, reaching $103.38. The stock had a trading volume of 2,977,530 shares, compared to its average volume of 2,640,699. The business’s 50 day moving average is $101.31 and its 200 day moving average is $93.23. Seagate Technology Holdings plc has a fifty-two week low of $62.43 and a fifty-two week high of $113.57.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. Seagate Technology’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) EPS. On average, research analysts forecast that Seagate Technology Holdings plc will post 6.21 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd 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 2.71%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is -217.05%.

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.