Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lifted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 200.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,326 shares of the data storage provider’s stock after buying an additional 2,218 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Seagate Technology were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STX. Family Firm Inc. acquired a new stake in shares of Seagate Technology during the 2nd quarter valued at approximately $41,000. ICA Group Wealth Management LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth $47,000. Richardson Financial Services Inc. purchased a new stake in shares of Seagate Technology in the fourth quarter valued at $47,000. Larson Financial Group LLC increased its stake in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. Finally, Viking Fund Management LLC lifted its position in Seagate Technology by 722.2% during the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock worth $69,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STX. UBS Group upped their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Susquehanna upped their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price target on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Cantor Fitzgerald upped their price objective on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Mizuho lifted their target price on Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $115.94.

Insider Activity at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. The disclosure for this sale can be found here. Insiders have sold 56,627 shares of company stock valued at $5,489,495 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Trading Down 1.1 %

STX opened at $100.93 on Thursday. Seagate Technology Holdings plc has a twelve month low of $63.32 and a twelve month high of $113.57. The firm has a market cap of $21.19 billion, a price-to-earnings ratio of -78.24 and a beta of 1.03. The company has a fifty day simple moving average of $101.24 and a 200 day simple moving average of $96.44.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company earned ($0.29) earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.77%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

About Seagate Technology

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.