Royal Bank of Canada Buys 62,847 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Royal Bank of Canada boosted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,616,517 shares of the data storage provider’s stock after acquiring an additional 62,847 shares during the period. Royal Bank of Canada’s holdings in Seagate Technology were worth $139,521,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC raised its stake in shares of Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 113 shares in the last quarter. Human Investing LLC acquired a new position in shares of Seagate Technology during the fourth quarter worth $48,000. Mizuho Bank Ltd. increased its position in shares of Seagate Technology by 140.0% during the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 350 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after purchasing an additional 112 shares in the last quarter. Finally, S.A. Mason LLC acquired a new stake in shares of Seagate Technology in the 4th quarter worth $55,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research analyst reports. Bank of America decreased their price target on Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price objective (down from $150.00) on shares of Seagate Technology in a research report on Wednesday, April 30th. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities restated a “buy” rating and set a $130.00 price target on shares of Seagate Technology in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.11.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the sale, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at $46,988,047.12. This represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is owned by company insiders.

Seagate Technology Stock Up 0.3%

Shares of STX opened at $107.79 on Monday. The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 19.71 and a beta of 1.32. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $115.32. The stock’s 50-day moving average price is $84.56 and its 200-day moving average price is $92.35.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. Seagate Technology’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. As a group, equities analysts anticipate that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology’s dividend payout ratio (DPR) is presently 41.62%.

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.