PFG Investments LLC Boosts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

PFG Investments LLC grew its position in Seagate Technology Holdings plc (NASDAQ:STX) by 43.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,863 shares of the data storage provider’s stock after buying an additional 2,373 shares during the period. PFG Investments LLC’s holdings in Seagate Technology were worth $812,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baader Bank Aktiengesellschaft acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $230,000. Bessemer Group Inc. lifted its holdings 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 acquiring an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after acquiring an additional 6,044 shares during the last quarter. Chapin Davis Inc. lifted its holdings in shares of Seagate Technology by 210.8% in the 1st quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock worth $2,713,000 after acquiring an additional 19,773 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Seagate Technology by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock worth $11,620,000 after acquiring an additional 1,419 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Gianluca Romano sold 25,760 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the sale, the chief financial officer now owns 52,620 shares in the company, valued at $4,974,694.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares in the company, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. Insiders have sold 56,627 shares of company stock worth $5,489,495 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Seagate Technology Trading Up 0.9 %

Shares of NASDAQ STX opened at $102.26 on Wednesday. Seagate Technology Holdings plc has a twelve month low of $62.43 and a twelve month high of $113.57. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of -79.27 and a beta of 1.04. The firm has a 50-day moving average of $101.44 and a two-hundred day moving average of $95.98.

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

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. Seagate Technology’s dividend payout ratio is -217.05%.

Analysts Set New Price Targets

Several brokerages have recently commented on STX. Mizuho upped their price objective on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, May 31st. UBS Group increased their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Barclays increased their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, Wedbush increased their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $115.94.

About Seagate Technology

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.