Private Advisor Group LLC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,935 shares of the data storage provider’s stock, valued at approximately $657,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sanders Capital LLC grew its position in shares of Seagate Technology by 31.4% in the 1st quarter. Sanders Capital LLC now owns 14,354,883 shares of the data storage provider’s stock worth $949,145,000 after buying an additional 3,429,154 shares during the last quarter. State Street Corp increased its position in shares of Seagate Technology by 16.3% during the third quarter. State Street Corp now owns 8,951,455 shares of the data storage provider’s stock worth $482,736,000 after purchasing an additional 1,256,349 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Seagate Technology by 4.4% during the 1st quarter. Invesco Ltd. now owns 1,843,144 shares of the data storage provider’s stock valued at $165,698,000 after purchasing an additional 78,298 shares during the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology in the 4th quarter worth $92,189,000. Finally, Dimensional Fund Advisors LP grew its stake in Seagate Technology by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,594,027 shares of the data storage provider’s stock worth $83,865,000 after buying an additional 29,540 shares during the last quarter. Institutional investors own 85.26% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on STX. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 price target on shares of Seagate Technology in a report on Wednesday, July 19th. Susquehanna upped their price target on shares of Seagate Technology from $33.00 to $40.00 in a research note on Thursday, July 27th. StockNews.com raised shares of Seagate Technology from a “sell” rating to a “hold” rating in a report on Tuesday. Summit Insights lowered Seagate Technology from a “buy” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Bank of America dropped their target price on Seagate Technology from $71.00 to $70.00 in a research report on Thursday, June 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Hold” and an average target price of $64.74.
Seagate Technology Stock Up 3.8 %
STX opened at $70.79 on Friday. Seagate Technology Holdings plc has a twelve month low of $47.47 and a twelve month high of $74.96. The company has a market cap of $14.68 billion, a PE ratio of -27.76 and a beta of 1.10. The company has a 50-day moving average price of $63.48 and a 200 day moving average price of $62.78.
Seagate Technology (NASDAQ:STX – Get Free Report) last released its earnings results on Wednesday, July 26th. The data storage provider reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 7.16%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the business posted $1.41 earnings per share. The business’s quarterly revenue was down 39.0% compared to the same quarter last year. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post -0.22 earnings per share for the current year.
Seagate Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Monday, September 25th. Seagate Technology’s dividend payout ratio (DPR) is currently -109.80%.
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.
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