UBS Group AG increased its holdings in Seagate Technology Holdings Inc. (NASDAQ:STX – free report ) by 29.9% during the fourth quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The firm acquired an additional 113,886 shares during the quarter, giving it a holding of 495,150 shares of the data storage provider's stock. UBS Group AG held 0.24% of Seagate Technology Inc. worth $42,271,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their holdings in STX. Farmers & Merchants Trust Co., Chambersburg, Pennsylvania, bought a new stake in Seagate Technology in the fourth quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in Seagate Technology in the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Seagate Technology in the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust increased its stake in Seagate Technology by 85.4% in the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider's stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Finally, Northwest Financial Advisors bought a new stake in Seagate Technology in the fourth quarter valued at approximately $31,000. Institutional investors own 92.87% of the company's shares.
Seagate Technology Stock Performance
NASDAQ STX shares opened trading at $94.19 on Friday. The company’s 50 day simple moving average is $89.73 and its 200 day simple moving average is $86.07. Seagate Technology Holdings plc’s 52 week low is $57.06 and its 52 week high is $101.26.
Seagate Technology (NASDAQ:STX – get free report ) last announced its earnings results on Tuesday, April 23rd. The data storage provider reported quarterly earnings per share of $0.33, beating the consensus estimate of $0.29 by $0.04. The company's quarterly revenue was $1.66 billion, beating analyst expectations of $1.68 billion. The company's quarterly revenue was down 11.0% year-over-year. In the same quarter last year, the company posted earnings per share of ($0.43). Research analysts on average expect Seagate Technology Holdings plc to post EPS of ($0.4) this year.
Seagate Technology announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.70. The ex-dividend date for this dividend is Thursday, June 20th. This equates to an annualized dividend of $2.80 and a yield of 2.97%. Seagate Technology's Dividend Payout Ratio (DPR) is currently at -217.05%.
Insiders bet
In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of the company's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares of the company's stock, valued at $1,442,575. The transaction was disclosed in a document filed with the SEC, which is available on the SEC's website. In other news, EVP Ban Seng Teh sold 9,703 shares of the company's stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the Executive Vice President now owns 15,185 shares of the company's stock, valued at $1,442,575. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through this hyperlink. Additionally, SVP, John Christopher Morris sold 11,158 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $90, for a total transaction value of $1,004,220. Following the sale, the Executive 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. Company insiders own 0.89% of the company's stock.
What Wall Street analysts are saying
Several analysts have offered their opinions on STX stock. UBS Group increased their price target on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group increased their price target on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Wells Fargo & Company increased their price target on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Evercore ISI began coverage on shares of Seagate Technology in a research report on Tuesday, February 27th. The firm set an “outperform” rating and a $110.00 price target on the stock. Finally, Mizuho reaffirmed a “buy” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Tuesday, April 9th. Two analysts have rated the stock as a sell, eight have rated it as a hold, and nine have rated it as a buy. According to MarketBeat data, the company has an average rating of a “hold” and an average price target of $95.50.
Read our latest analysis for Seagate Technology
About Seagate Technology
(Free report)
Seagate Technology Holdings plc provides data storage technologies and solutions in Singapore, the United States, the Netherlands and internationally. It offers mass storage products such as enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs and network attached storage drives.
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