Bangor Savings Bank Boosts Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Bangor Savings Bank increased its position in Seagate Technology Holdings plc (NASDAQ:STX) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,435 shares of the data storage provider’s stock after buying an additional 399 shares during the period. Bangor Savings Bank’s holdings in Seagate Technology were worth $692,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund raised its holdings in shares of Seagate Technology by 68.8% in 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 buying an additional 58,300 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after buying an additional 1,485,937 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Seagate Technology by 8.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after buying an additional 561 shares during the period. Baader Bank Aktiengesellschaft purchased a new stake in shares of Seagate Technology in the fourth quarter worth approximately $230,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Seagate Technology by 1.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock worth $11,620,000 after buying an additional 1,419 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In related news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology 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 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 legal filing with the SEC, which is available at this link. In related news, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the transaction, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Christopher Morris sold 11,158 shares of the company’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 value of $1,004,220.00. Following the completion of the transaction, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The disclosure for this sale can be found here. Insiders sold a total of 37,531 shares of company stock worth $3,592,946 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on STX shares. Susquehanna raised their price objective on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a report on Wednesday, April 10th. Bank of America restated a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a report on Wednesday, June 5th. Cantor Fitzgerald raised their price objective on Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. The Goldman Sachs Group raised their price objective on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Evercore ISI started coverage on Seagate Technology in a research report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Seagate Technology currently has an average rating of “Hold” and an average price target of $98.29.

Seagate Technology Stock Performance

Shares of STX stock opened at $103.08 on Monday. The business has a fifty day moving average of $93.42 and a 200 day moving average of $89.49. 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 released its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) EPS. Equities research analysts anticipate that Seagate Technology Holdings plc will post 0.44 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors 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 2.72%. Seagate Technology’s dividend payout ratio is presently -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.