FARMERS & MERCHANTS TRUST Co OF LONG BEACH Invests $209,000 in Seagate Technology Holdings plc (NASDAQ:STX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 1st quarter, HoldingsChannel reports. The fund bought 2,250 shares of the data storage provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently modified their holdings of STX. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Seagate Technology in the fourth quarter worth $26,000. CVA Family Office LLC acquired a new stake in Seagate Technology in the fourth quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Seagate Technology in the 4th quarter worth $28,000. Northwest Financial Advisors acquired a new stake in shares of Seagate Technology in the fourth quarter valued at $31,000. Finally, Exchange Traded Concepts LLC acquired a new position in Seagate Technology during the fourth quarter worth about $43,000. 92.87% of the stock is owned by institutional investors and hedge funds.

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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the transaction, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 10,742 shares of the business’s stock in a transaction dated 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 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 worth $3,592,946 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $103.13 on Wednesday. The firm has a fifty day moving average of $96.09 and a two-hundred day moving average of $90.50. Seagate Technology Holdings plc has a 12-month low of $57.32 and a 12-month high of $107.91.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the company posted ($0.43) earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, equities analysts predict 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 will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 2.72%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Wall Street Analyst Weigh In

Several research firms recently commented on STX. Wedbush raised shares of 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. Bank of America reissued a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a research note on Wednesday, June 5th. The Goldman Sachs Group boosted their target price on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Citigroup began coverage on Seagate Technology in a research report on Tuesday, May 14th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Cantor Fitzgerald boosted 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.