In the 1st quarter, Sei Investments Co. reduced its holdings in Seagate Technology Holdings plc by 35.0%. The firm sold 5,840 shares, leaving them with 10,837 shares worth $1,008,000. Other institutional investors and hedge funds have also bought and sold shares of Seagate Technology during the quarter. Forsta AP Fonden, Illinois Municipal Retirement Fund, Oppenheimer & Co. Inc., Hilltop National Bank, and SG Americas Securities LLC all increased their holdings in the tech company.
Several research firms have commented on Seagate Technology recently, with Bank of America giving it a “buy” rating and a target price of $110. StockNews.com upgraded the company to a “buy” rating, while Loop Capital, UBS Group, and Northland Securities all raised their target prices for the stock.
Seagate Technology’s stock opened at $103.68 on Friday, with a market cap of $21.77 billion. The company reported earnings of $1.05 EPS for the quarter, beating analysts’ estimates. Seagate Technology also announced a quarterly dividend of $0.70, to be paid on October 7th.
Insider activity at Seagate Technology has seen senior vice president John Christopher Morris and executive vice president Ban Seng Teh selling shares of the company. Overall, insiders have sold 47,648 shares in the last 90 days, representing 0.89% of the company’s stock.
Seagate Technology Holdings plc provides data storage technology and solutions globally, offering mass capacity storage products and network-attached storage drives. Analysts forecast that the company will post 5.65 EPS for the current fiscal year.
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