Vestmark Advisory Solutions Inc. boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,048 shares of the data storage provider's stock after purchasing an additional 3,149 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Seagate Technology were worth $1,633,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of STX. LPL Financial LLC bought a new position in Seagate Technology during the 2nd quarter worth approximately $11,170,000. Simmons Bank boosted its holdings in shares of 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 buying an additional 198 shares during the period. SPC Financial Inc. boosted its holdings in shares of 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 buying an additional 200 shares during the period. Range Financial Group LLC boosted its holdings in shares of Seagate Technology by 6.9% in the 3rd quarter. Range Financial Group LLC now owns 11,978 shares of the data storage provider's stock valued at $638,000 after buying an additional 775 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted its position in Seagate Technology by 48.5% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 3,828 shares of the data storage provider's stock valued at $204,000 after purchasing an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company's stock.
Get Seagate Technology alerts:Analyst Upgrades and Downgrades
STX has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $61.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, January 27th. Loop Capital raised their price target on shares of Seagate Technology from $70.00 to $80.00 in a research report on Thursday, January 26th. Credit Suisse Group lifted their target price on shares of Seagate Technology from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, January 24th. UBS Group lifted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Thursday, January 26th. Finally, Wells Fargo & Company lifted their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, January 26th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $69.58.
Insiders Place Their Bets
In other Seagate Technology news, EVP Jeffrey D. Nygaard sold 36,809 shares of Seagate Technology stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $69.14, for a total transaction of $2,544,974.26. Following the transaction, the executive vice president now directly owns 30,360 shares of the company's stock, valued at approximately $2,099,090.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company's stock.
Seagate Technology Stock Performance
Shares of STX stock opened at $66.12 on Friday. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 54.02 and a beta of 1.07. Seagate Technology Holdings plc has a 52 week low of $47.47 and a 52 week high of $94.68. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 46.44. The firm has a 50 day moving average of $65.72 and a 200-day moving average of $58.40.
Seagate Technology (NASDAQ:STX – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The data storage provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. Seagate Technology had a net margin of 6.61% and a negative return on equity of 1,031.05%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm posted $2.28 EPS. Seagate Technology's revenue was down 39.4% compared to the same quarter last year. On average, equities analysts forecast that Seagate Technology Holdings plc will post 0.98 earnings per share for the current year.
Seagate Technology Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Wednesday, March 22nd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Tuesday, March 21st. Seagate Technology's payout ratio is currently 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.
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