Seagate Technology Holdings PLC (NASDAQ:STX) Shares Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lifted its position in shares of Seagate Technology Holdings PLC (NASDAQ:STX) by 16.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,159 shares of the data storage provider’s stock after buying an additional 454 shares during the period. OneDigital Investment Advisors LLC’s holdings in Seagate Technology were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tidal Investments LLC increased its holdings in shares of Seagate Technology by 133.1% during the 4th quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider’s stock worth $1,094,000 after buying an additional 7,240 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Seagate Technology by 0.8% during the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider’s stock worth $2,545,000 after buying an additional 243 shares during the last quarter. Norges Bank acquired a new stake in shares of Seagate Technology during the 4th quarter worth $25,729,000. Vontobel Holding Ltd. increased its holdings in shares of Seagate Technology by 5.2% during the 1st quarter. Vontobel Holding Ltd. now owns 5,354 shares of the data storage provider’s stock worth $450,000 after buying an additional 264 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock worth $39,000 after buying an additional 440 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on STX shares. Cantor Fitzgerald upped their price objective on Seagate Technology from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, May 19th. Mizuho lowered their price target on Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. Barclays increased their price target on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Seagate Technology in a report on Friday, May 23rd. Finally, UBS Group increased their price target on Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.53.

Seagate Technology Stock Performance

Shares of STX stock opened at $147.18 on Friday. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $152.16. The company’s 50-day simple moving average is $124.06 and its 200-day simple moving average is $101.35. The stock has a market capitalization of $31.23 billion, a price-to-earnings ratio of 21.27 and a beta of 1.45.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 1.96%. Seagate Technology’s payout ratio is 41.62%.

Seagate Technology announced that its board has authorized a share buyback plan on Thursday, May 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 63,418 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $125.00, for a total transaction of $7,927,250.00. Following the transaction, the executive vice president owned 14,658 shares of the company’s stock, valued at approximately $1,832,250. This trade represents a 81.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 70,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $109.47, for a total transaction of $7,662,900.00. Following the completion of the transaction, the chief executive officer directly owned 485,677 shares in the company, valued at $53,167,061.19. This represents a 12.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 393,791 shares of company stock worth $47,582,998. 0.81% of the stock is currently owned by company insiders.

Seagate Technology 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.