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

UMB Bank n.a. boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 37.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 852 shares of the data storage provider’s stock after acquiring an additional 233 shares during the period. UMB Bank n.a.’s holdings in Seagate Technology were worth $74,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Blair William & Co. IL acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $314,000. Canada Pension Plan Investment Board raised its holdings in Seagate Technology by 96,580.0% in the second quarter. Canada Pension Plan Investment Board now owns 9,668 shares of the data storage provider’s stock valued at $998,000 after buying an additional 9,658 shares during the period. Sei Investments Co. lifted its position in Seagate Technology by 33.7% during the second quarter. Sei Investments Co. now owns 14,484 shares of the data storage provider’s stock valued at $1,496,000 after buying an additional 3,647 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Seagate Technology by 26.1% during the second quarter. Thrivent Financial for Lutherans now owns 10,475 shares of the data storage provider’s stock worth $1,081,000 after buying an additional 2,165 shares during the period. Finally, Profund Advisors LLC increased its position in shares of Seagate Technology by 6.8% in the second quarter. Profund Advisors LLC now owns 4,024 shares of the data storage provider’s stock worth $416,000 after acquiring an additional 257 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

NASDAQ STX opened at $108.19 on Friday. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32. The company has a 50-day simple moving average of $95.00 and a 200-day simple moving average of $100.42. The firm has a market capitalization of $22.89 billion, a PE ratio of 19.78 and a beta of 1.06.

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

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 2.66%. Seagate Technology’s dividend payout ratio (DPR) is 52.65%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the transaction, the chief executive officer now owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,073 shares of company stock worth $5,106,149 in the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

STX has been the topic of several recent research reports. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 target price on shares of Seagate Technology in a report on Wednesday. The Goldman Sachs Group reduced their price objective on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Northland Securities reiterated an “outperform” rating and issued a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research note on Wednesday. Citigroup boosted their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays lifted their price objective on shares of Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

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.