PFG Investments LLC Has $676,000 Stake in Seagate Technology Holdings PLC (NASDAQ:STX)

PFG Investments LLC grew its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 6.8% during the first quarter, Holdings Channel.com reports. The firm owned 7,958 shares of the data storage provider’s stock after buying an additional 510 shares during the period. PFG Investments LLC’s holdings in Seagate Technology were worth $676,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock worth $1,348,262,000 after buying an additional 5,640,443 shares during the last quarter. Vanguard Group Inc. increased its holdings in Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after buying an additional 1,814,821 shares during the last quarter. Marshall Wace LLP acquired a new position in Seagate Technology in the fourth quarter worth approximately $77,341,000. Junto Capital Management LP acquired a new position in Seagate Technology during the fourth quarter valued at approximately $60,303,000. Finally, Janus Henderson Group PLC grew its holdings in Seagate Technology by 2,853.4% during the fourth quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider’s stock valued at $57,925,000 after purchasing an additional 648,257 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at $46,988,047.12. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kian Fatt Chong sold 6,410 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $111.26, for a total value of $713,176.60. The disclosure for this sale can be found here. Insiders sold 393,791 shares of company stock worth $46,380,998 over the last three months. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on STX. Wedbush reiterated an “outperform” rating and set a $140.00 price target on shares of Seagate Technology in a report on Wednesday, May 21st. Citigroup increased their price target on Seagate Technology from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. 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. Wall Street Zen downgraded Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Finally, Bank of America increased their price objective on Seagate Technology from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $119.42.

Seagate Technology Price Performance

Shares of STX stock opened at $133.08 on Tuesday. The stock has a market cap of $28.24 billion, a P/E ratio of 19.23 and a beta of 1.40. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $134.07. The stock has a fifty day moving average price of $106.13 and a 200 day moving average price of $96.37.

Seagate Technology (NASDAQ:STX) last issued its 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. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. Seagate Technology’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. Equities research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

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

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 2.16%. Seagate Technology’s dividend payout ratio is currently 41.62%.

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.