Bank of Montreal Can Purchases 22,775 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Bank of Montreal Can grew its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 11.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 218,618 shares of the data storage provider’s stock after buying an additional 22,775 shares during the quarter. Bank of Montreal Can’s holdings in Seagate Technology were worth $22,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC grew its stake in shares of Seagate Technology by 5.0% in the fourth quarter. Corient Private Wealth LLC now owns 21,696 shares of the data storage provider’s stock worth $1,852,000 after acquiring an additional 1,030 shares during the period. US Bancorp DE grew its position in Seagate Technology by 3.0% in the 4th quarter. US Bancorp DE now owns 17,757 shares of the data storage provider’s stock worth $1,516,000 after purchasing an additional 519 shares during the period. Commerce Bank purchased a new stake in Seagate Technology during the 4th quarter valued at $347,000. TD Asset Management Inc lifted its holdings in shares of Seagate Technology by 3.9% during the 4th quarter. TD Asset Management Inc now owns 77,968 shares of the data storage provider’s stock valued at $6,656,000 after buying an additional 2,898 shares during the period. Finally, Focus Financial Network Inc. ADV purchased a new position in shares of Seagate Technology in the 4th quarter worth $283,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 1.8 %

NASDAQ STX opened at $108.74 on Friday. Seagate Technology Holdings plc has a twelve month low of $63.88 and a twelve month high of $113.57. The business has a 50-day moving average price of $101.37 and a 200-day moving average price of $97.02. The firm has a market cap of $22.89 billion, a price-to-earnings ratio of -84.29 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 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 company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts expect that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.57%. Seagate Technology’s payout ratio is currently -217.05%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the transaction, the chief executive officer now owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Gianluca Romano sold 25,760 shares of the firm’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 sale, the chief financial officer now owns 52,620 shares of the company’s stock, valued at $4,974,694.80. The disclosure for this sale can be found here. Insiders have sold a total of 203,284 shares of company stock worth $21,647,287 in the last three months. Insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Robert W. Baird increased their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Mizuho increased their price target on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Northland Securities boosted their price objective on shares of Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology presently has a consensus rating of “Hold” and an average target price of $115.94.

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.