Tounjian Advisory Partners LLC Invests $777,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Tounjian Advisory Partners LLC purchased a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,142 shares of the data storage provider's stock, valued at approximately $777,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. acquired a new position in Seagate Technology in the 4th quarter worth $26,000. Elequin Capital LP bought a new stake in shares of Seagate Technology in the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Seagate Technology during the fourth quarter worth about $27,000. JFS Wealth Advisors LLC grew its position in shares of Seagate Technology by 27.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after acquiring an additional 113 shares in the last quarter. Finally, Human Investing LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth $48,000. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $117.01, for a total transaction of $87,757.50. Following the completion of the sale, the director now directly owns 5,055 shares in the company, valued at approximately $591,485.55. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 54,347 shares of Seagate Technology stock in a transaction on Monday, June 9th. The shares were sold at an average price of $130.19, for a total value of $7,075,435.93. Following the sale, the chief executive officer now directly owns 515,677 shares of the company's stock, valued at approximately $67,135,988.63. The trade was a 9.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 393,192 shares of company stock valued at $46,303,128 over the last ninety days. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Price Performance

Shares of STX traded down $2.18 during mid-day trading on Tuesday, hitting $127.99. The company's stock had a trading volume of 6,119,072 shares, compared to its average volume of 3,054,361. The firm has a 50-day moving average price of $94.23 and a 200 day moving average price of $94.30. Seagate Technology Holdings plc has a fifty-two week low of $63.19 and a fifty-two week high of $132.23. The stock has a market capitalization of $27.16 billion, a price-to-earnings ratio of 23.40 and a beta of 1.40.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The company's quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, equities analysts anticipate that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology announced that its board has authorized a share buyback program on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to repurchase up to 21.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's payout ratio is 41.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STX. Barclays lifted their target price on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Citigroup increased their price objective on shares of Seagate Technology from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Wedbush reiterated an "outperform" rating and set a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. UBS Group raised their target price on Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, BNP Paribas upgraded Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus price target of $119.42.

Seagate Technology 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.