Bangor Savings Bank Raises Position in Seagate Technology Holdings plc (NASDAQ:STX)

Bangor Savings Bank raised its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,435 shares of the data storage provider’s stock after purchasing an additional 399 shares during the quarter. Bangor Savings Bank’s holdings in Seagate Technology were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Seagate Technology during the fourth quarter valued at about $26,000. CVA Family Office LLC bought a new stake in Seagate Technology during the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust lifted its holdings in shares of Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Northwest Financial Advisors purchased a new position in Seagate Technology in the 4th quarter worth approximately $31,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STX has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Mizuho boosted their price objective on shares of Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Bank of America reaffirmed a “buy” rating and issued a $110.00 target price on shares of Seagate Technology in a report on Wednesday, June 5th. Wedbush upgraded shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Wednesday, May 1st. Finally, Cantor Fitzgerald boosted their price target on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Hold” and a consensus price target of $98.29.

Insiders Place Their Bets

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

Seagate Technology Stock Performance

STX opened at $103.08 on Monday. Seagate Technology Holdings plc has a twelve month low of $57.32 and a twelve month high of $107.91. The company has a 50-day moving average price of $93.42 and a 200 day moving average price of $89.49.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share 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 analysts’ expectations of $1.68 billion. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.43) EPS. As a group, equities analysts forecast that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.72%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

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.