Florida Financial Advisors LLC purchased a new stake in Seagate Technology Holdings PLC (NASDAQ:STX – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,269 shares of the data storage provider’s stock, valued at approximately $1,999,000.
A number of other institutional investors have also recently made changes to their positions in the stock. Elm Partners Management LLC bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $228,000. Nomura Asset Management Co. Ltd. grew its position in shares of Seagate Technology by 10.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 88,415 shares of the data storage provider’s stock valued at $24,349,000 after buying an additional 8,207 shares during the last quarter. MUFG Securities EMEA plc grew its position in shares of Seagate Technology by 119.4% in the 4th quarter. MUFG Securities EMEA plc now owns 8,932 shares of the data storage provider’s stock valued at $2,460,000 after buying an additional 4,861 shares during the last quarter. Forsta AP Fonden boosted its position in shares of Seagate Technology by 15.0% during the 4th quarter. Forsta AP Fonden now owns 53,000 shares of the data storage provider’s stock valued at $14,596,000 after purchasing an additional 6,900 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $498,363,000. Institutional investors own 92.87% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on STX shares. Barclays upped their target price on Seagate Technology from $750.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Sanford C. Bernstein upped their target price on Seagate Technology from $620.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Argus upped their target price on Seagate Technology from $450.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Bank of America upped their target price on Seagate Technology from $840.00 to $900.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Citigroup upped their target price on Seagate Technology from $595.00 to $740.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $746.63.
Insiders Place Their Bets
In other news, EVP John Christopher Morris sold 5,626 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $738.37, for a total value of $4,154,069.62. Following the completion of the sale, the executive vice president directly owned 11,954 shares of the company’s stock, valued at $8,826,474.98. This represents a 32.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Ban Seng Teh sold 8,003 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $817.28, for a total value of $6,540,691.84. Following the completion of the sale, the executive vice president directly owned 3,691 shares of the company’s stock, valued at approximately $3,016,580.48. This trade represents a 68.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 122,437 shares of company stock valued at $78,398,375. 0.79% of the stock is currently owned by corporate insiders.
Seagate Technology Price Performance
Shares of NASDAQ:STX opened at $879.80 on Monday. The business’s 50 day simple moving average is $612.03 and its two-hundred day simple moving average is $432.99. The firm has a market cap of $197.28 billion, a P/E ratio of 83.47 and a beta of 2.04. The company has a debt-to-equity ratio of 3.16, a quick ratio of 0.85 and a current ratio of 1.33. Seagate Technology Holdings PLC has a 52-week low of $116.28 and a 52-week high of $905.39.
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The data storage provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.51 by $0.59. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $2.96 billion. Seagate Technology had a return on equity of 1,005.65% and a net margin of 21.60%.The company’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 earnings per share. Seagate Technology has set its Q4 2026 guidance at 4.800-5.200 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 14.1 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Wednesday, June 24th will be issued a $0.74 dividend. The ex-dividend date is Wednesday, June 24th. This represents a $2.96 annualized dividend and a yield of 0.3%. Seagate Technology’s dividend payout ratio is presently 28.08%.
Seagate Technology Company Profile
Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.
Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.
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