International Assets Investment Management LLC Makes New Investment in Seagate Technology Holdings PLC (NASDAQ:STX)

International Assets Investment Management LLC purchased a new stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX) during the first quarter, Holdings Channel.com reports. The firm purchased 2,367 shares of the data storage provider’s stock, valued at approximately $201,000.

A number of other large investors have also made changes to their positions in STX. Ameriflex Group Inc. purchased a new position in Seagate Technology during the 4th quarter worth approximately $26,000. Elequin Capital LP purchased a new stake in shares of Seagate Technology in the fourth quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Seagate Technology in the fourth quarter worth $27,000. Menard Financial Group LLC purchased a new position in shares of Seagate Technology during the fourth quarter valued at $50,000. Finally, Mizuho Bank Ltd. raised its position in Seagate Technology by 140.0% during the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider’s stock valued at $52,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 599 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $130.00, for a total transaction of $77,870.00. Following the completion of the transaction, the executive vice president now directly owns 10,329 shares in the company, valued at $1,342,770. This represents a 5.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Kian Fatt Chong sold 6,410 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $111.26, for a total transaction of $713,176.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 393,791 shares of company stock worth $46,380,998. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on STX shares. Cantor Fitzgerald raised their price objective on Seagate Technology from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Wells Fargo & Company raised their price target on shares of Seagate Technology from $105.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Morgan Stanley boosted their price objective on shares of Seagate Technology from $99.00 to $140.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, BNP Paribas Exane upgraded shares of Seagate Technology from an “underperform” rating to a “neutral” rating and set a $100.00 price target on the stock in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.42.

Seagate Technology Stock Up 0.5%

Shares of STX stock opened at $141.44 on Friday. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $142.47. The company has a market cap of $30.02 billion, a PE ratio of 20.44 and a beta of 1.40. The business’s 50 day moving average is $111.34 and its two-hundred day moving average is $97.52.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. Seagate Technology’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. As a group, equities analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology announced that its board has authorized a share repurchase program on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to repurchase up to 21.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.04%. Seagate Technology’s payout ratio is presently 41.62%.

Seagate Technology 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.