Seagate Technology Holdings plc (NASDAQ:STX) Shares Purchased by Foster & Motley Inc.
Foster & Motley Inc. grew its position in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,527 shares of the data storage provider’s stock after purchasing an additional 10,114 shares during the period. Foster & Motley Inc.’s holdings in Seagate Technology were worth $6,047,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of STX. First Quadrant L P CA purchased a new stake in shares of Seagate Technology in the third quarter valued at $33,000. Gables Capital Management Inc. purchased a new stake in Seagate Technology in the 3rd quarter valued at about $41,000. Old North State Trust LLC increased its stake in shares of Seagate Technology by 43.0% during the 4th quarter. Old North State Trust LLC now owns 426 shares of the data storage provider’s stock valued at $48,000 after acquiring an additional 128 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Seagate Technology by 196.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 589 shares of the data storage provider’s stock worth $50,000 after acquiring an additional 390 shares during the period. Finally, Carroll Financial Associates Inc. boosted its position in shares of Seagate Technology by 41.1% in the fourth quarter. Carroll Financial Associates Inc. now owns 446 shares of the data storage provider’s stock worth $50,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 81.67% of the company’s stock.
In related news, Director Holdings L.P. Valueact sold 1,750,000 shares of the business’s stock in a transaction dated Thursday, February 17th. The shares were sold at an average price of $108.00, for a total transaction of $189,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen J. Luczo sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $103.26, for a total transaction of $5,163,000.00. The disclosure for this sale can be found here. Insiders sold a total of 2,079,755 shares of company stock valued at $224,400,956 over the last quarter. Company insiders own 0.81% of the company’s stock.
STX stock traded down $3.00 during midday trading on Friday, hitting $90.92. 2,736,314 shares of the company’s stock were exchanged, compared to its average volume of 2,229,823. The firm has a 50 day moving average price of $101.11 and a 200-day moving average price of $98.29. Seagate Technology Holdings plc has a 12-month low of $72.59 and a 12-month high of $117.67. The stock has a market capitalization of $19.90 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 9.41 and a beta of 1.04. The company has a current ratio of 1.49, a quick ratio of 1.06 and a debt-to-equity ratio of 10.70.
Seagate Technology (NASDAQ:STX – Get Rating) last posted its quarterly earnings results on Wednesday, January 26th. The data storage provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.07. The firm had revenue of $3.12 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Seagate Technology had a net margin of 15.35% and a return on equity of 322.33%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. On average, sell-side analysts forecast that Seagate Technology Holdings plc will post 8.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 6th. Stockholders of record on Tuesday, March 22nd will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, March 21st. This represents a $2.80 annualized dividend and a dividend yield of 3.08%. Seagate Technology’s payout ratio is 35.13%.
STX has been the subject of several research analyst reports. Robert W. Baird dropped their price target on shares of Seagate Technology from $120.00 to $100.00 in a research report on Wednesday, March 16th. Wedbush increased their target price on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, January 27th. Zacks Investment Research cut Seagate Technology from a “buy” rating to a “hold” rating and set a $117.00 target price on the stock. in a report on Monday, December 27th. Summit Redstone upgraded Seagate Technology to a “buy” rating in a research note on Thursday, January 27th. Finally, Benchmark lifted their price objective on Seagate Technology from $102.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, January 27th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $108.43.
Seagate Technology Company Profile (Get Rating)
Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.
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