National Bank of Canada FI Acquires 12,780 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

National Bank of Canada FI grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 27.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,029 shares of the data storage provider’s stock after acquiring an additional 12,780 shares during the quarter. National Bank of Canada FI’s holdings in Seagate Technology were worth $6,149,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Family Firm Inc. purchased a new position in Seagate Technology in the 2nd quarter worth $41,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Seagate Technology in the fourth quarter worth about $44,000. ICA Group Wealth Management LLC bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $47,000. Richardson Financial Services Inc. purchased a new stake in Seagate Technology during the 4th quarter valued at about $47,000. Finally, Larson Financial Group LLC grew its position in Seagate Technology by 15,766.7% during the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after acquiring an additional 473 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Price Performance

NASDAQ:STX opened at $101.34 on Tuesday. Seagate Technology Holdings plc has a 1-year low of $62.43 and a 1-year high of $113.57. The company has a market capitalization of $21.33 billion, a PE ratio of -78.56 and a beta of 1.04. The firm’s 50-day moving average price is $101.47 and its 200-day moving average price is $95.88.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned ($0.29) earnings per share. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts anticipate that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal 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 issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on STX shares. Evercore ISI increased their price objective on Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. StockNews.com cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Susquehanna raised their target price on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note 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 company’s stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Hold” and an average price target of $115.94.

Insider Transactions at Seagate Technology

In other 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 owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Gianluca Romano sold 25,760 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the completion of the transaction, the chief financial officer now owns 52,620 shares in the company, valued at $4,974,694.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,627 shares of company stock valued at $5,489,495. 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.