Kwmg LLC Raises Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Kwmg LLC increased its position in Seagate Technology Holdings plc (NASDAQ:STX) by 0.2% during the 1st quarter, Holdings Channel reports. The firm owned 65,080 shares of the data storage provider’s stock after acquiring an additional 146 shares during the quarter. Kwmg LLC’s holdings in Seagate Technology were worth $6,056,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Seagate Technology during the 4th quarter valued at $26,000. CVA Family Office LLC bought a new stake in Seagate Technology during the 4th quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Seagate Technology during the 4th quarter valued at $28,000. Parkside Financial Bank & Trust boosted its position in Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 205 shares in the last quarter. Finally, Northwest Financial Advisors bought a new stake in Seagate Technology during the 4th quarter valued at $31,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX stock traded down $1.08 during mid-day trading on Wednesday, hitting $102.66. 1,206,263 shares of the stock were exchanged, compared to its average volume of 2,666,773. The stock’s fifty day simple moving average is $94.21 and its two-hundred day simple moving average is $89.83. Seagate Technology Holdings plc has a 12-month low of $57.32 and a 12-month high of $107.91.

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

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. Seagate Technology’s payout ratio is currently -217.05%.

Insider Activity at Seagate Technology

In other news, SVP John Christopher Morris sold 5,928 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the completion of the sale, the senior vice president now directly owns 12,185 shares in the company, valued at approximately $1,218,378.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP John Christopher Morris sold 5,928 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the completion of the sale, the senior vice president now directly owns 12,185 shares in the company, valued at approximately $1,218,378.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 10,742 shares of Seagate Technology 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 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. Insiders sold a total of 37,531 shares of company stock worth $3,592,946 over the last 90 days. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Susquehanna increased their target price on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. UBS Group raised their price objective on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Finally, Wedbush raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $98.29.

Seagate Technology Company 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.