Chapin Davis Inc. recently reported a significant increase in their holdings of Seagate Technology, with a 210.8% growth in shares during the 1st quarter. This move positions Seagate Technology as the company’s 22nd largest investment, with shares worth $2,713,000. Other hedge funds, including Vanguard Group Inc. and JPMorgan Chase & Co, have also made significant changes to their investments in Seagate Technology.
Wall Street analysts have forecasted growth for Seagate Technology, with various firms issuing buy ratings and increasing price targets for the stock. Insiders at Seagate Technology have also been active, selling shares at around $100 per share. The company recently announced a quarterly dividend of $0.70 per share, with a yield of 2.71%.
Seagate Technology provides data storage technology and solutions globally, including mass capacity storage products like HDDs and SSDs. With a market capitalization of $21.69 billion, the company recently reported quarterly earnings that beat analyst expectations.
Despite this positive news, Seagate Technology’s stock experienced a slight decline of 0.8% on Monday, trading at $103.27 per share. The company has seen a 12 month high of $107.91 and a low of $57.32. Analysts predict earnings per share of $0.44 for the current fiscal year.
In conclusion, Chapin Davis Inc. and other hedge funds have shown confidence in Seagate Technology, while analysts and insiders remain bullish on the company’s future prospects. Investors will be watching closely as Seagate Technology continues to navigate the evolving data storage market.
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