Blair William & Co. IL Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Blair William & Co. IL acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,043 shares of the data storage provider’s stock, valued at approximately $314,000.

Other large investors have also made changes to their positions in the company. Family Firm Inc. purchased a new position in shares of Seagate Technology in the 2nd quarter valued at about $41,000. ICA Group Wealth Management LLC purchased a new position in shares of Seagate Technology in the 4th quarter valued at about $47,000. Richardson Financial Services Inc. purchased a new position in shares of Seagate Technology in the 4th quarter valued at about $47,000. Larson Financial Group LLC increased its holdings in shares of Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after purchasing an additional 473 shares in the last quarter. Finally, Viking Fund Management LLC increased its holdings in shares of Seagate Technology by 722.2% in the 1st quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock valued at $69,000 after purchasing an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on STX shares. Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Bank of America reissued a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a research note on Wednesday, June 5th. UBS Group increased their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company increased their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $115.94.

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of the firm’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 in the company, valued at $291,567.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Yolanda Lee Conyers sold 750 shares of the firm’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 in the company, valued at $291,567.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Ban Seng Teh sold 10,117 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the completion of the transaction, the executive vice president now owns 5,387 shares in the company, valued at approximately $592,570. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,627 shares of company stock valued at $5,489,495. Insiders own 0.89% of the company’s stock.

Seagate Technology Stock Performance

STX opened at $110.76 on Friday. The company’s 50 day simple moving average is $101.25 and its 200 day simple moving average is $96.90. Seagate Technology Holdings plc has a 1 year low of $63.88 and a 1 year high of $113.57. The stock has a market capitalization of $23.26 billion, a PE ratio of -85.86 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the company earned ($0.29) earnings per share. The company’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.53%. 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.