UMB Bank n.a. Increases Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

UMB Bank n.a. grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 37.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 852 shares of the data storage provider’s stock after acquiring an additional 233 shares during the quarter. UMB Bank n.a.’s holdings in Seagate Technology were worth $74,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in STX. Point72 Asset Management L.P. acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at about $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Seagate Technology by 341.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock valued at $143,370,000 after acquiring an additional 1,012,638 shares during the period. State Street Corp raised its position in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after purchasing an additional 541,585 shares during the last quarter. Franklin Resources Inc. boosted its stake in Seagate Technology by 29.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after purchasing an additional 405,232 shares during the period. Finally, Geode Capital Management LLC grew its position in Seagate Technology by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after purchasing an additional 318,416 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now directly owns 642,497 shares in the company, valued at approximately $63,947,726.41. This represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kian Fatt Chong sold 9,182 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,073 shares of company stock worth $5,106,149. 0.81% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company lowered their target price on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Evercore ISI upped their price target on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $122.56.

Seagate Technology Stock Performance

Seagate Technology stock opened at $108.19 on Friday. The firm has a market capitalization of $22.89 billion, a price-to-earnings ratio of 19.78 and a beta of 1.06. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32. The stock’s fifty day moving average is $95.00 and its two-hundred day moving average is $100.42.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) earnings per share. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.92 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Seagate Technology 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.