8,040 Shares in Seagate Technology Holdings PLC (NASDAQ:STX) Bought by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC bought a new position in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,040 shares of the data storage provider's stock, valued at approximately $683,000.

Several other institutional investors also recently bought and sold shares of STX. Golden State Wealth Management LLC raised its position in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock valued at $39,000 after purchasing an additional 440 shares during the period. Golden State Equity Partners acquired a new position in Seagate Technology in the 1st quarter valued at $207,000. International Assets Investment Management LLC acquired a new position in Seagate Technology in the 1st quarter valued at $201,000. Asset Management One Co. Ltd. raised its holdings in Seagate Technology by 5.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 89,021 shares of the data storage provider's stock worth $7,562,000 after acquiring an additional 4,799 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in Seagate Technology by 27.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 20,482 shares of the data storage provider's stock worth $1,740,000 after acquiring an additional 4,427 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 54,347 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $130.19, for a total transaction of $7,075,435.93. Following the transaction, the chief executive officer now directly owns 515,677 shares in the company, valued at approximately $67,135,988.63. This represents a 9.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 599 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $130.00, for a total transaction of $77,870.00. Following the sale, the executive vice president now directly owns 10,329 shares in the company, valued at $1,342,770. This trade represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 393,791 shares of company stock worth $46,380,998 over the last ninety days. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Stock Up 1.6%

NASDAQ:STX opened at $140.69 on Friday. The firm has a market capitalization of $29.86 billion, a PE ratio of 20.33 and a beta of 1.40. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $141.87. The firm has a 50-day moving average price of $110.03 and a 200 day moving average price of $97.23.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. The company's revenue was up 30.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. On average, research analysts expect that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Seagate Technology declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 22nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.05%. Seagate Technology's dividend payout ratio (DPR) is presently 41.62%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STX. Cantor Fitzgerald raised their price target on Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Citigroup increased their target price on Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Mizuho dropped their price target on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley upped their price target on Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Bank of America raised their price objective on shares of Seagate Technology from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.42.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.

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