Seagate Technology Holdings Plc (NASDAQ:STX) Shares Bought by Diligent Investors LLC

Financial News Live · Mar 30, 2023 01:24

Diligent Investors LLC grew its position in Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 12.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,275 shares of the data storage provider's stock after acquiring an additional 2,000 shares during the quarter. Diligent Investors LLC's holdings in Seagate Technology were worth $961,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vestmark Advisory Solutions Inc. boosted its stake in Seagate Technology by 7.7% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 27,899 shares of the data storage provider's stock worth $1,485,000 after purchasing an additional 1,984 shares during the period. LPL Financial LLC purchased a new position in shares of Seagate Technology during the second quarter worth about $11,170,000. Simmons Bank increased its position in Seagate Technology by 3.7% in the 3rd quarter. Simmons Bank now owns 5,577 shares of the data storage provider's stock valued at $297,000 after acquiring an additional 198 shares during the period. SPC Financial Inc. increased its position in Seagate Technology by 4.7% in the 3rd quarter. SPC Financial Inc. now owns 4,425 shares of the data storage provider's stock valued at $236,000 after acquiring an additional 200 shares during the period. Finally, Ensign Peak Advisors Inc raised its stake in Seagate Technology by 26.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 170,900 shares of the data storage provider's stock valued at $12,209,000 after acquiring an additional 36,160 shares during the last quarter. 82.69% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on STX. Morgan Stanley boosted their target price on Seagate Technology from $69.00 to $72.00 in a report on Thursday, January 26th. UBS Group upped their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, January 26th. Wedbush lifted their target price on shares of Seagate Technology from $45.00 to $55.00 in a report on Thursday, January 26th. Mizuho raised shares of Seagate Technology from a "neutral" rating to a "buy" rating and increased their price target for the stock from $62.00 to $82.00 in a report on Friday, February 10th. Finally, StockNews.com started coverage on Seagate Technology in a report on Thursday, March 16th. They issued a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $69.58.

Insiders Place Their Bets

In related news, EVP Jeffrey D. Nygaard sold 36,809 shares of the business's stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $69.14, for a total value of $2,544,974.26. Following the completion of the sale, the executive vice president now directly owns 30,360 shares of the company's stock, valued at $2,099,090.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Seagate Technology Trading Up 4.1 %

Shares of STX stock traded up $2.46 during mid-day trading on Wednesday, reaching $62.89. The company's stock had a trading volume of 982,474 shares, compared to its average volume of 2,555,704. The company's 50 day simple moving average is $65.34 and its 200-day simple moving average is $58.33. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 46.44. Seagate Technology Holdings plc has a 12-month low of $47.47 and a 12-month high of $94.68. The firm has a market capitalization of $12.99 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 52.20 and a beta of 1.07.

Seagate Technology (NASDAQ:STX – Get Rating) last announced its earnings results on Wednesday, January 25th. The data storage provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. Seagate Technology had a negative return on equity of 1,031.05% and a net margin of 6.61%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $2.28 EPS. The company's revenue was down 39.4% on a year-over-year basis. On average, research analysts predict that Seagate Technology Holdings plc will post 0.98 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Wednesday, March 22nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 21st. This represents a $2.80 dividend on an annualized basis and a yield of 4.45%. Seagate Technology's dividend payout ratio (DPR) is 99.64%.

Seagate Technology Profile

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Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.