Oppenheimer & Co. Inc. Purchases 3,710 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Oppenheimer & Co. Inc. increased its position in Seagate Technology Holdings plc (NASDAQ:STX) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,683 shares of the data storage provider’s stock after purchasing an additional 3,710 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Seagate Technology were worth $2,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC raised its holdings in shares of Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after purchasing an additional 97 shares during the period. Csenge Advisory Group raised its holdings in shares of Seagate Technology by 1.4% in the 1st quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock valued at $788,000 after purchasing an additional 119 shares during the period. Kingswood Wealth Advisors LLC raised its holdings in shares of Seagate Technology by 3.7% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock valued at $357,000 after purchasing an additional 122 shares during the period. Burney Co. raised its holdings in shares of Seagate Technology by 3.3% in the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock valued at $367,000 after purchasing an additional 125 shares during the period. Finally, Forum Financial Management LP raised its holdings in Seagate Technology by 4.0% in the 2nd quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock valued at $333,000 after acquiring an additional 125 shares during the period. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Mizuho increased their price target on shares of Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, May 31st. Rosenblatt Securities increased their price target on shares of Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Susquehanna increased their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Barclays increased their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group increased their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Trading Down 0.7 %

NASDAQ STX opened at $101.44 on Tuesday. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of -78.64 and a beta of 1.03. The firm’s 50 day simple moving average is $101.40 and its 200 day simple moving average is $96.38. Seagate Technology Holdings plc has a 1 year low of $63.32 and a 1 year high of $113.57.

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

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be given 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 yield of 2.76%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Insider Buying and Selling at Seagate Technology

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

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.