National Bank of Canada FI Raises Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

National Bank of Canada FI raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 27.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,029 shares of the data storage provider’s stock after buying an additional 12,780 shares during the period. National Bank of Canada FI’s holdings in Seagate Technology were worth $6,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of STX. Baader Bank Aktiengesellschaft purchased a new stake in Seagate Technology during the fourth quarter valued at $230,000. Bessemer Group Inc. lifted its stake in shares of Seagate Technology by 68.7% in the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after purchasing an additional 7,150 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Seagate Technology by 2.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after buying an additional 6,044 shares during the last quarter. Chapin Davis Inc. grew its position in Seagate Technology by 210.8% during the first quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock valued at $2,713,000 after buying an additional 19,773 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Seagate Technology by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock valued at $11,620,000 after buying an additional 1,419 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The disclosure for this sale can be found here. Insiders have sold a total of 56,627 shares of company stock worth $5,489,495 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Seagate Technology Price Performance

Shares of STX opened at $101.34 on Tuesday. The stock has a market capitalization of $21.33 billion, a price-to-earnings ratio of -78.56 and a beta of 1.04. Seagate Technology Holdings plc has a 1 year low of $62.43 and a 1 year high of $113.57. The business’s 50 day simple moving average is $101.47 and its 200-day simple moving average is $95.88.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business earned ($0.29) earnings per share. Seagate Technology’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, sell-side analysts expect that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.76%. Seagate Technology’s payout ratio is currently -217.05%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STX shares. Cantor Fitzgerald boosted their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Mizuho raised their price objective on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Loop Capital lifted their price objective on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wedbush increased their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Bank of America reaffirmed a “buy” rating and set a $110.00 price target on shares of Seagate Technology in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $115.94.

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.