Bessemer Group Inc. significantly increased its stake in Seagate Technology Holdings plc during the first quarter, according to a recent SEC filing. The company’s holdings in Seagate were valued at $1.63 million at the end of the reporting period. Additionally, several other institutional investors also bought shares of Seagate during the same period.
Despite this increase in institutional investment, Seagate Technology’s stock experienced a 5.1% decline, opening at $103.96 on Friday. The company recently announced its quarterly earnings, reporting EPS of $1.05, surpassing analyst expectations. Seagate also declared a quarterly dividend of $0.70 per share, with a dividend yield of 2.69%.
Wall Street analysts have weighed in on Seagate’s stock, with varying price targets and ratings. The company has received a consensus rating of “Hold” with an average price target of $115.94.
In terms of insider activity, there has been notable selling of Seagate’s stock by senior executives in recent months. These transactions have totaled over $3.5 million in sales.
Seagate Technology provides data storage technology and solutions globally, offering a range of storage products, including HDDs, SSDs, and network-attached storage drives.
For more information on Seagate Technology’s financial performance and stock activity, investors can visit HoldingsChannel.com for the latest filings and insider trades.
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Bessemer Group Inc. Boosts Investment in Seagate Technology Holdings plc (NASDAQ:STX)
