Viking Fund Management LLC Buys 650 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Viking Fund Management LLC lifted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 722.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 740 shares of the data storage provider’s stock after buying an additional 650 shares during the quarter. Viking Fund Management LLC’s holdings in Seagate Technology were worth $69,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $26,000. CVA Family Office LLC purchased a new position in Seagate Technology in the 4th quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Seagate Technology in the 4th quarter worth $28,000. Parkside Financial Bank & Trust lifted its holdings in shares of Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Finally, Northwest Financial Advisors purchased a new position in Seagate Technology in the fourth quarter worth $31,000. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Mizuho boosted their target price on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Cantor Fitzgerald increased their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. UBS Group lifted their price objective on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. The Goldman Sachs Group increased their target price on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Wedbush raised 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.29.

Seagate Technology Stock Up 1.3 %

Shares of Seagate Technology stock traded up $1.35 on Thursday, reaching $104.10. The company’s stock had a trading volume of 1,342,061 shares, compared to its average volume of 2,662,076. The stock has a 50-day moving average price of $94.59 and a 200-day moving average price of $89.92. Seagate Technology Holdings plc has a 52-week low of $57.32 and a 52-week high of $107.91.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the company posted ($0.43) EPS. The firm’s revenue was down 11.0% on a year-over-year basis. On average, analysts anticipate that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Insider Activity

In other news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the transaction, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares in the company, valued at $1,599,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ban Seng Teh sold 10,742 shares of Seagate Technology stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the completion of the transaction, the executive vice president now owns 5,042 shares of the company’s stock, valued at approximately $504,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,531 shares of company stock valued at $3,592,946. Company insiders own 0.89% of the company’s stock.

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.