M&G Plc Invests $12.43 Million in Seagate Technology Holdings plc (NASDAQ:STX)

M&G Plc acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 133,614 shares of the data storage provider’s stock, valued at approximately $12,426,000. M&G Plc owned 0.06% of Seagate Technology at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of STX. Csenge Advisory Group boosted its position in Seagate Technology by 1.4% during the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock valued at $788,000 after purchasing an additional 119 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Seagate Technology by 1.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock valued at $786,000 after purchasing an additional 126 shares during the last quarter. Graypoint LLC boosted its position in Seagate Technology by 4.9% during the first quarter. Graypoint LLC now owns 2,710 shares of the data storage provider’s stock valued at $252,000 after purchasing an additional 127 shares during the last quarter. CWM LLC boosted its position in Seagate Technology by 3.9% during the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after purchasing an additional 130 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Seagate Technology by 0.3% during the first quarter. Retirement Systems of Alabama now owns 43,005 shares of the data storage provider’s stock valued at $4,002,000 after purchasing an additional 130 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Down 0.8 %

Shares of STX stock traded down $0.84 during trading hours on Friday, reaching $102.63. The company’s stock had a trading volume of 1,977,279 shares, compared to its average volume of 1,794,165. The firm’s 50 day simple moving average is $100.37 and its 200-day simple moving average is $92.21. The company has a market capitalization of $21.55 billion, a price-to-earnings ratio of -79.56 and a beta of 1.02. Seagate Technology Holdings plc has a fifty-two week low of $57.32 and a fifty-two week high of $109.63.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) EPS. Sell-side analysts predict that Seagate Technology Holdings plc will post 0.44 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 20th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Thursday, June 20th. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 10,742 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the sale, the executive vice president now directly owns 5,042 shares in the company, valued at approximately $504,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,531 shares of company stock valued at $3,592,946. 0.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

STX has been the subject of a number of recent analyst reports. Barclays cut their price objective on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Susquehanna raised their price objective on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $73.00 to $115.00 in a research report on Tuesday, March 26th. Mizuho raised their price objective on Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, UBS Group raised their price objective on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $100.94.

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.