Ballentine Partners LLC Buys 227 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Ballentine Partners LLC boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,542 shares of the data storage provider’s stock after acquiring an additional 227 shares during the period. Ballentine Partners LLC’s holdings in Seagate Technology were worth $366,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in STX. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after buying an additional 746,395 shares in the last quarter. Capital Research Global Investors raised its position in Seagate Technology by 39.3% in the fourth quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after purchasing an additional 4,685,454 shares in the last quarter. Sanders Capital LLC lifted its stake in Seagate Technology by 3.0% during the fourth quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after purchasing an additional 443,768 shares during the period. Clearbridge Investments LLC lifted its stake in Seagate Technology by 14.5% during the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after purchasing an additional 337,464 shares during the period. Finally, Norges Bank acquired a new stake in Seagate Technology during the fourth quarter valued at approximately $188,834,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STX. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, July 24th. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Bank of America restated a “buy” rating and issued a $110.00 target price on shares of Seagate Technology in a research note on Wednesday, June 5th. Morgan Stanley increased their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, UBS Group boosted their price target on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Hold” and an average target price of $115.94.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction 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 completion of the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Seagate Technology news, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 52,620 shares of the company’s stock, valued at $4,974,694.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 directly owns 654,270 shares in the company, valued at $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 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $102.53 on Thursday. The business’s fifty day moving average price is $101.43 and its two-hundred day moving average price is $96.08. The firm has a market capitalization of $21.53 billion, a price-to-earnings ratio of -79.48 and a beta of 1.03. Seagate Technology Holdings plc has a 52 week low of $62.43 and a 52 week high of $113.57.

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

Seagate Technology Announces Dividend

The firm 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 dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is -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.