Sanders Morris Harris LLC Buys Shares of 4,000 Seagate Technology Holdings plc (NASDAQ:STX)

Sanders Morris Harris LLC purchased a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,000 shares of the data storage provider’s stock, valued at approximately $372,000.

A number of other hedge funds have also modified their holdings of the business. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Seagate Technology in the 4th quarter valued at about $26,000. CVA Family Office LLC acquired a new stake in shares of Seagate Technology in the 4th quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Seagate Technology in the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust grew its holdings in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 205 shares during the period. Finally, Northwest Financial Advisors purchased a new position in shares of Seagate Technology in the 4th quarter valued at about $31,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Seagate Technology

In related news, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction that occurred on 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 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 at this link. In related news, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the completion of the transaction, the executive vice president now owns 5,042 shares in the company, valued at $504,200. The disclosure for this sale can be found here. Insiders sold 37,531 shares of company stock valued at $3,592,946 in the last quarter. Company insiders own 0.89% of the company’s stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded up $0.46 on Friday, hitting $103.08. The company had a trading volume of 3,420,633 shares, compared to its average volume of 2,299,184. The company has a market cap of $21.65 billion, a PE ratio of -79.91 and a beta of 1.03. The business has a 50-day simple moving average of $93.42 and a 200-day simple moving average of $89.41. Seagate Technology Holdings plc has a 52 week low of $57.32 and a 52 week high of $107.91.

Seagate Technology (NASDAQ:STX) last posted 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 company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the firm posted ($0.43) EPS. Seagate Technology’s quarterly revenue was down 11.0% on a year-over-year basis. On average, equities research analysts predict that Seagate Technology Holdings plc will post 0.44 earnings per share for the current fiscal 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 $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.72%. Seagate Technology’s dividend payout ratio is -217.05%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on STX shares. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Loop Capital boosted their target price 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. The Goldman Sachs Group upped their target price on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Mizuho lifted their price target on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.29.

Seagate Technology 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.