Seagate Technology Holdings plc (NASDAQ:STX) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,590 shares of the data storage provider’s stock after purchasing an additional 371 shares during the quarter. Park Avenue Securities LLC’s holdings in Seagate Technology were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of Seagate Technology during the 4th quarter worth about $26,000. CVA Family Office LLC acquired a new position in Seagate Technology in the 4th quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Seagate Technology in the 4th quarter valued at about $28,000. Northwest Financial Advisors acquired a new position in Seagate Technology in the 4th quarter valued at about $31,000. Finally, Valley National Advisers Inc. grew its position in Seagate Technology by 39.7% in the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 144 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on STX. Loop Capital lifted their target price on Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Wedbush upgraded Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Wednesday, May 1st. UBS Group lifted their price target on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $73.00 to $115.00 in a report on Tuesday, March 26th. Finally, Citigroup started coverage on Seagate Technology in a report on Tuesday, May 14th. They issued a “buy” rating and a $110.00 target price on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Seagate Technology has an average rating of “Hold” and an average price target of $98.29.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $103.27 on Friday. The company has a market cap of $21.69 billion, a P/E ratio of -80.05 and a beta of 1.03. Seagate Technology Holdings plc has a one year low of $57.32 and a one year high of $107.91. The business’s 50-day simple moving average is $95.41 and its 200 day simple moving average is $90.16.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.43) earnings per share. Analysts predict that Seagate Technology Holdings plc will post 0.44 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 2.71%. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insiders Place Their Bets

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology 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 completion of the transaction, the executive vice president now owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The disclosure for this sale can be found here. Insiders have sold 37,531 shares of company stock worth $3,592,946 in the last three months. 0.89% of the stock is owned by insiders.

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.