Berkshire Bank Raises Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Berkshire Bank boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STXFree Report) by 23.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,431 shares of the data storage provider’s stock after acquiring an additional 650 shares during the period. Berkshire Bank’s holdings in Seagate Technology were worth $319,000 as of its most recent SEC filing.

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

Seagate Technology Stock Performance

NASDAQ:STX traded down $3.21 during midday trading on Tuesday, reaching $93.60. 3,083,968 shares of the stock traded hands, compared to its average volume of 2,721,461. The company has a fifty day moving average of $89.29 and a 200 day moving average of $85.80. Seagate Technology Holdings plc has a 12 month low of $57.06 and a 12 month high of $101.26. The stock has a market capitalization of $19.66 billion, a P/E ratio of -72.56, a PEG ratio of 194.89 and a beta of 1.06.

Seagate Technology (NASDAQ:STXGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company posted ($0.43) earnings per share. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, analysts predict that Seagate Technology Holdings plc will post 0.4 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio is presently -217.05%.

Wall Street Analyst Weigh In

STX has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Barclays cut their price target on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, April 22nd. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. TD Cowen boosted their price objective on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Mizuho restated a “buy” rating and issued a $100.00 price objective on shares of Seagate Technology in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $95.50.

View Our Latest Research Report on Seagate Technology

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the transaction, the executive vice president now owns 15,185 shares in the company, valued at approximately $1,442,575. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Seagate Technology Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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