SVB Wealth LLC Purchases 987 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

SVB Wealth LLC raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 18.7% in the first quarter, Holdings Channel.com reports. The firm owned 6,273 shares of the data storage provider’s stock after purchasing an additional 987 shares during the period. SVB Wealth LLC’s holdings in Seagate Technology were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STX. Csenge Advisory Group grew its position in Seagate Technology by 1.4% during the 1st quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock valued at $788,000 after purchasing an additional 119 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Seagate Technology by 1.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock valued at $786,000 after buying an additional 126 shares during the last quarter. Graypoint LLC raised its holdings in Seagate Technology by 4.9% in the 1st quarter. Graypoint LLC now owns 2,710 shares of the data storage provider’s stock worth $252,000 after acquiring an additional 127 shares during the last quarter. CWM LLC raised its holdings in Seagate Technology by 3.9% in the 4th quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock worth $294,000 after acquiring an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in Seagate Technology by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 43,005 shares of the data storage provider’s stock valued at $4,002,000 after acquiring an additional 130 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the sale, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the sale, the executive vice president now owns 5,042 shares in the company, valued at approximately $504,200. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,648 shares of company stock valued at $4,705,816. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on STX. Citigroup lifted their target price on Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Robert W. Baird upped their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Northland Securities lifted their price target on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Seagate Technology has an average rating of “Hold” and an average target price of $115.94.

Seagate Technology Price Performance

NASDAQ STX traded down $0.30 on Monday, hitting $103.38. 2,977,530 shares of the company traded hands, compared to its average volume of 2,640,699. The business’s 50 day moving average price is $101.31 and its 200-day moving average price is $93.23. 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 announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the company posted ($0.29) EPS. The firm’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts predict that Seagate Technology Holdings plc will post 6.21 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently announced 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 2.71%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

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.