Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Chapin Davis Inc.

Chapin Davis Inc. grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 210.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,152 shares of the data storage provider’s stock after buying an additional 19,773 shares during the quarter. Seagate Technology accounts for 1.0% of Chapin Davis Inc.’s portfolio, making the stock its 22nd largest position. Chapin Davis Inc.’s holdings in Seagate Technology were worth $2,713,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in Seagate Technology by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 24,006,681 shares of the data storage provider’s stock valued at $2,049,450,000 after purchasing an additional 425,117 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after acquiring an additional 1,485,937 shares in the last quarter. Capital Research Global Investors boosted its stake in Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after acquiring an additional 4,685,454 shares during the last quarter. Sanders Capital LLC grew its holdings in Seagate Technology by 3.0% during the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after acquiring an additional 443,768 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Seagate Technology by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock worth $288,960,000 after purchasing an additional 127,214 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STX. Bank of America reaffirmed a “buy” rating and set a $110.00 price target on shares of Seagate Technology in a report on Wednesday, June 5th. Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $73.00 to $115.00 in a research report on Tuesday, March 26th. Barclays dropped their target price on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Mizuho raised 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, The Goldman Sachs Group upped their price target on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $98.29.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at approximately $504,200. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the completion of the transaction, the executive vice president now owns 5,042 shares in the company, valued at approximately $504,200. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Christopher Morris sold 5,928 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the completion of the sale, the senior vice president now owns 12,185 shares in the company, valued at $1,218,378.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,531 shares of company stock worth $3,592,946. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Trading Down 0.8 %

Shares of STX stock opened at $103.27 on Monday. Seagate Technology Holdings plc has a 12 month low of $57.32 and a 12 month high of $107.91. The stock has a 50 day moving average of $95.41 and a two-hundred day moving average of $90.25. The company has a market capitalization of $21.69 billion, a P/E ratio of -80.05 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 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 analyst estimates of $1.68 billion. During the same period last year, the firm earned ($0.43) earnings per share. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. Sell-side analysts predict that Seagate Technology Holdings plc will post 0.44 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.71%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is presently -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.