M&G Plc Acquires 10,813 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

M&G Plc grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,427 shares of the data storage provider’s stock after purchasing an additional 10,813 shares during the period. M&G Plc owned about 0.07% of Seagate Technology worth $14,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of STX. Bangor Savings Bank boosted its stake in shares of Seagate Technology by 3.1% in the 2nd quarter. Bangor Savings Bank now owns 7,666 shares of the data storage provider’s stock worth $792,000 after buying an additional 231 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Seagate Technology in the 2nd quarter worth $255,000. Crestmont Private Wealth LLC purchased a new position in shares of Seagate Technology in the 2nd quarter worth $207,000. Czech National Bank boosted its stake in shares of Seagate Technology by 8.5% in the 2nd quarter. Czech National Bank now owns 37,214 shares of the data storage provider’s stock worth $3,843,000 after buying an additional 2,931 shares during the last quarter. Finally, Berkshire Bank boosted its stake in shares of Seagate Technology by 4.9% in the 2nd quarter. Berkshire Bank now owns 3,599 shares of the data storage provider’s stock worth $372,000 after buying an additional 168 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gianluca Romano sold 25,760 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the transaction, the chief financial officer now directly owns 52,620 shares of the company’s stock, valued at $4,974,694.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,547 shares of company stock worth $7,084,361. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Evercore ISI lifted their target price on Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Northland Securities lifted their target price on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Mizuho lifted their target price on Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Susquehanna lifted their target price on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research report on Wednesday, July 24th. Finally, Barclays raised their price target on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $115.94.

Seagate Technology Stock Up 2.5 %

NASDAQ:STX opened at $98.20 on Wednesday. The company has a fifty day simple moving average of $101.87 and a two-hundred day simple moving average of $94.10. The company has a market cap of $20.64 billion, a price-to-earnings ratio of -76.12 and a beta of 1.02. Seagate Technology Holdings plc has a 52 week low of $62.43 and a 52 week high of $113.57.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted ($0.29) earnings per share. On average, analysts expect that Seagate Technology Holdings plc will post 6.21 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.85%. Seagate Technology’s payout ratio is currently -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.