SPC Financial Inc. Boosts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

SPC Financial Inc. grew its position in Seagate Technology Holdings plc (NASDAQ:STX) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,150 shares of the data storage provider’s stock after acquiring an additional 200 shares during the quarter. SPC Financial Inc.’s holdings in Seagate Technology were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Seagate Technology by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 24,006,681 shares of the data storage provider’s stock valued at $2,049,450,000 after acquiring an additional 425,117 shares during the last quarter. Capital Research Global Investors boosted its position in Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after purchasing an additional 4,685,454 shares during the period. Sanders Capital LLC boosted 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 valued at $1,322,053,000 after purchasing an additional 443,768 shares during the period. Wellington Management Group LLP boosted its position in Seagate Technology by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock valued at $288,960,000 after purchasing an additional 127,214 shares during the period. Finally, Norges Bank acquired a new position in Seagate Technology during the 4th quarter valued at approximately $188,834,000. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on STX. UBS Group boosted their price objective on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group boosted their price target on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Bank of America reiterated a “buy” rating and set a $110.00 price target on shares of Seagate Technology in a research report on Wednesday, June 5th. Finally, Wedbush raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research note on Wednesday, May 1st. Two research 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, the company presently has a consensus rating of “Hold” and an average target price of $98.29.

Seagate Technology Stock Down 0.6 %

Shares of Seagate Technology stock opened at $106.11 on Friday. The stock’s fifty day moving average is $98.51 and its 200-day moving average is $91.37. Seagate Technology Holdings plc has a 12-month low of $57.32 and a 12-month high of $107.91. The firm has a market capitalization of $22.28 billion, a PE ratio of -82.26 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm earned ($0.43) EPS. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. Analysts expect that Seagate Technology Holdings plc will post 0.44 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 20th were paid a $0.70 dividend. The ex-dividend date was Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.64%. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

Insider Buying and Selling at Seagate Technology

In other news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was 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 owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was 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 owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the sale, the executive vice president now owns 5,042 shares of the company’s stock, valued at approximately $504,200. The disclosure for this sale can be found here. Insiders have sold 37,531 shares of company stock worth $3,592,946 over the last 90 days. 0.89% of the stock is currently owned by corporate 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.