GAMMA Investing LLC Purchases 254 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

GAMMA Investing LLC boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 37.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 931 shares of the data storage provider’s stock after purchasing an additional 254 shares during the period. GAMMA Investing LLC’s holdings in Seagate Technology were worth $87,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Seagate Technology during the 3rd quarter valued at $783,000. Envestnet Asset Management Inc. grew its stake in shares of Seagate Technology by 60.1% in the third quarter. Envestnet Asset Management Inc. now owns 351,694 shares of the data storage provider’s stock valued at $23,194,000 after buying an additional 132,064 shares in the last quarter. LPL Financial LLC increased its stake in shares of Seagate Technology by 40.6% during the 3rd quarter. LPL Financial LLC now owns 168,737 shares of the data storage provider’s stock worth $11,128,000 after purchasing an additional 48,727 shares during the last quarter. Mariner LLC lifted its position in shares of Seagate Technology by 0.6% in the third quarter. Mariner LLC now owns 29,616 shares of the data storage provider’s stock valued at $1,953,000 after buying an additional 185 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Seagate Technology by 2.4% during the third quarter. Northern Trust Corp now owns 1,649,673 shares of the data storage provider’s stock worth $108,796,000 after purchasing an additional 38,291 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STX has been the topic of a number of analyst reports. Evercore ISI started coverage on Seagate Technology in a research report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price target on the stock. UBS Group increased their price target on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America reissued a “buy” rating and set a $110.00 target price on shares of Seagate Technology in a research note on Wednesday, June 5th. Mizuho upped their target price on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Cantor Fitzgerald lifted their price target on Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Hold” and a consensus target price of $98.29.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the transaction, 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 SEC, which is accessible through this link. In other news, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the transaction, the executive vice president now owns 15,185 shares in the company, valued at $1,442,575. The disclosure for this sale can be found here. Insiders sold a total of 37,531 shares of company stock valued at $3,592,946 over the last 90 days. Insiders own 0.89% of the company’s stock.

Seagate Technology Stock Performance

Seagate Technology stock opened at $103.08 on Monday. The business has a 50-day simple moving average of $93.42 and a 200 day simple moving average of $89.49. Seagate Technology Holdings plc has a 52 week low of $57.32 and a 52 week high of $107.91.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share 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% on a year-over-year basis. Analysts forecast that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.72%. Seagate Technology’s payout ratio is -217.05%.

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.