Bank OZK Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Bank OZK bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,652 shares of the data storage provider’s stock, valued at approximately $226,000.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after purchasing an additional 1,485,937 shares in the last quarter. FMR LLC grew its stake in shares of Seagate Technology by 13.1% during the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after buying an additional 1,612,264 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Seagate Technology by 3.0% in the third quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock worth $288,960,000 after buying an additional 127,214 shares during the period. Invesco Ltd. boosted its holdings in Seagate Technology by 0.4% during the 3rd quarter. Invesco Ltd. now owns 2,804,277 shares of the data storage provider’s stock valued at $184,942,000 after acquiring an additional 10,697 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Seagate Technology by 24.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock worth $158,950,000 after purchasing an additional 470,592 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Price Performance

STX stock traded down $1.22 on Friday, reaching $86.04. 3,637,434 shares of the company traded hands, compared to its average volume of 3,003,319. The firm has a fifty day simple moving average of $89.25 and a 200-day simple moving average of $82.92. Seagate Technology Holdings plc has a one year low of $54.47 and a one year high of $101.26. The company has a market cap of $18.03 billion, a P/E ratio of -66.70, a price-to-earnings-growth ratio of 474.05 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the firm earned ($0.43) EPS. Seagate Technology’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued a $0.70 dividend. 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 3.25%. Seagate Technology’s payout ratio is currently -217.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on STX shares. Wedbush restated a “neutral” rating and issued a $100.00 target price on shares of Seagate Technology in a report on Wednesday. Evercore ISI began coverage on shares of Seagate Technology in a research note on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price objective for the company. The Goldman Sachs Group raised their target price on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday. Cantor Fitzgerald upped their price target on Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their target price on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.53.

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.