LGT Group Foundation Buys 6,674 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

LGT Group Foundation grew its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,885 shares of the data storage provider’s stock after purchasing an additional 6,674 shares during the period. LGT Group Foundation’s holdings in Seagate Technology were worth $8,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Northwest Financial Advisors bought a new stake in Seagate Technology during the 4th quarter worth approximately $31,000. Family Firm Inc. bought a new stake in Seagate Technology during the 2nd quarter worth approximately $41,000. CarsonAllaria Wealth Management Ltd. bought a new stake in Seagate Technology during the 4th quarter worth approximately $44,000. ICA Group Wealth Management LLC bought a new position in Seagate Technology in the 4th quarter valued at $47,000. Finally, Richardson Financial Services Inc. bought a new position in Seagate Technology in the 4th quarter valued at $47,000. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on STX shares. The Goldman Sachs Group increased their price objective on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. UBS Group increased their price objective on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley increased their price target on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Barclays increased their price target on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Hold” and a consensus target price of $115.94.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 10,742 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total transaction of $2,435,350.40. Following the completion of the transaction, the chief financial officer now directly owns 52,620 shares in the company, valued at $4,974,694.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the transaction, the executive vice president now owns 5,042 shares of the company’s stock, valued at $504,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,297 shares of company stock worth $7,156,436. Company insiders own 0.89% of the company’s stock.

Seagate Technology Trading Up 2.1 %

Shares of NASDAQ STX traded up $2.10 during mid-day trading on Monday, hitting $100.08. The company had a trading volume of 144,685 shares, compared to its average volume of 2,571,164. The company has a market capitalization of $21.07 billion, a PE ratio of -75.95 and a beta of 1.04. The firm has a 50-day simple moving average of $101.47 and a two-hundred day simple moving average of $95.88. Seagate Technology Holdings plc has a one year low of $62.43 and a one year high of $113.57.

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

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) 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.