Kimelman & Baird LLC Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Kimelman & Baird LLC acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the 2nd quarter, Holdings Channel reports. The firm acquired 12,014 shares of the data storage provider’s stock, valued at approximately $1,241,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in Seagate Technology during the 2nd quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after buying an additional 337 shares during the last quarter. Family Firm Inc. bought a new position in Seagate Technology during the 2nd quarter valued at $41,000. ICA Group Wealth Management LLC bought a new stake in shares of Seagate Technology in the 4th quarter worth $47,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $47,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 1.8 %

Shares of Seagate Technology stock opened at $108.74 on Monday. The business has a 50 day moving average of $101.37 and a 200 day moving average of $97.06. Seagate Technology Holdings plc has a 52 week low of $63.88 and a 52 week high of $113.57. The company has a market cap of $22.89 billion, a PE ratio of -84.29 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last announced 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. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.29) EPS. On average, research analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s payout ratio is -217.05%.

Wall Street Analysts Forecast Growth

STX has been the topic of several analyst reports. UBS Group boosted their price target 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. Evercore ISI increased their price target on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Loop Capital lifted their price objective on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.94.

Insider Activity at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at $291,567.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology 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 transaction, 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. In the last ninety days, insiders have sold 203,284 shares of company stock valued at $21,647,287. 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.