Graypoint LLC Purchases 314 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Graypoint LLC raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,024 shares of the data storage provider’s stock after acquiring an additional 314 shares during the period. Graypoint LLC’s holdings in Seagate Technology were worth $312,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in STX. Northwest Financial Advisors bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $31,000. Family Firm Inc. bought a new stake in Seagate Technology in the second quarter valued at approximately $41,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $44,000. ICA Group Wealth Management LLC bought a new position in shares of Seagate Technology in the fourth quarter worth approximately $47,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of Seagate Technology in the fourth quarter worth $47,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a research report on Wednesday, June 5th. Loop Capital upped their target price on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. UBS Group boosted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Citigroup raised their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Hold” and a consensus target price of $115.94.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John Christopher Morris sold 5,928 shares of Seagate Technology stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the transaction, the senior vice president now owns 12,185 shares in the company, valued at $1,218,378.15. The disclosure for this sale can be found here. Insiders sold a total of 72,547 shares of company stock worth $7,084,361 in the last three months. 0.89% of the stock is currently owned by company insiders.

Seagate Technology Stock Up 2.1 %

Shares of STX stock opened at $99.55 on Tuesday. The company has a 50 day moving average price of $101.82 and a 200-day moving average price of $95.53. Seagate Technology Holdings plc has a 52 week low of $62.43 and a 52 week high of $113.57. The firm has a market capitalization of $20.90 billion, a PE ratio of -77.17 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.29) EPS. Analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.81%. Seagate Technology’s payout ratio is -217.05%.

About Seagate Technology

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.