Ontario Teachers Pension Plan Board Acquires Shares of 4,847 Seagate Technology Holdings plc (NASDAQ:STX)

Ontario Teachers Pension Plan Board bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,847 shares of the data storage provider’s stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STX. Financial Management Professionals Inc. acquired a new position in Seagate Technology in the 1st quarter valued at $26,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Seagate Technology during the fourth quarter worth about $28,000. CI Investments Inc. increased its stake in shares of Seagate Technology by 102.2% during the fourth quarter. CI Investments Inc. now owns 540 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 273 shares during the period. State of Wyoming acquired a new stake in Seagate Technology in the fourth quarter valued at about $36,000. Finally, Barrett & Company Inc. purchased a new stake in Seagate Technology in the 1st quarter valued at approximately $41,000. Hedge funds and other institutional investors own 85.26% of the company’s stock.

Seagate Technology Trading Down 0.8 %

NASDAQ:STX opened at $63.75 on Monday. Seagate Technology Holdings plc has a 12-month low of $47.47 and a 12-month high of $74.51. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of -25.00 and a beta of 1.08. The company’s 50-day moving average is $64.72 and its two-hundred day moving average is $62.61.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Wednesday, July 26th. The data storage provider reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.68 billion. Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 7.16%. The business’s revenue for the quarter was down 39.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.41 EPS. On average, equities research analysts forecast that Seagate Technology Holdings plc will post -0.29 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 25th. This represents a $2.80 annualized dividend and a dividend yield of 4.39%. Seagate Technology’s payout ratio is currently -109.80%.

Analysts Set New Price Targets

STX has been the subject of several recent analyst reports. Rosenblatt Securities reduced their price target on Seagate Technology from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, July 27th. Summit Insights lowered shares of Seagate Technology from a “buy” rating to a “sell” rating in a research report on Thursday, July 27th. Wedbush reiterated a “neutral” rating and issued a $55.00 price target on shares of Seagate Technology in a report on Wednesday, September 6th. Susquehanna boosted their price objective on shares of Seagate Technology from $33.00 to $40.00 in a report on Thursday, July 27th. Finally, Bank of America dropped their target price on shares of Seagate Technology from $71.00 to $70.00 in a report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $62.28.

Insider Buying and Selling

In related news, SVP Katherine Schuelke sold 7,832 shares of Seagate Technology stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $63.10, for a total value of $494,199.20. Following the transaction, the senior vice president now owns 28,812 shares in the company, valued at $1,818,037.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William D. Mosley sold 200,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $70.28, for a total transaction of $14,056,000.00. Following the completion of the transaction, the chief executive officer now directly owns 616,309 shares in the company, valued at approximately $43,314,196.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Katherine Schuelke sold 7,832 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $63.10, for a total transaction of $494,199.20. Following the completion of the sale, the senior vice president now directly owns 28,812 shares in the company, valued at $1,818,037.20. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

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.