Cetera Investment Advisers Purchases 28,153 Shares of Seagate Technology Holdings PLC (NASDAQ:STX)

Key Points

• Cetera Investment Advisers increased its holdings in Seagate Technology by 51.1% during the 1st quarter, bringing its total investment to $7.07 million as it owned 83,222 shares at quarter-end.
• Several institutional investors, including Tidal Investments LLC and Alps Advisors Inc., have also recently increased their positions in Seagate Technology, reflecting growing confidence in the company's stock.
• Seagate Technology has announced a quarterly dividend of $0.72 per share, equating to an annualized dividend of $2.88 and a dividend yield of 1.9%.

Cetera Investment Advisers increased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 51.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,222 shares of the data storage provider's stock after purchasing an additional 28,153 shares during the quarter. Cetera Investment Advisers' holdings in Seagate Technology were worth $7,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. John G Ullman & Associates Inc. acquired a new position in shares of Seagate Technology in the 1st quarter valued at about $1,350,000. Avantax Advisory Services Inc. lifted its stake in shares of Seagate Technology by 15.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 16,162 shares of the data storage provider's stock valued at $1,373,000 after purchasing an additional 2,122 shares in the last quarter. Lifeworks Advisors LLC lifted its stake in shares of Seagate Technology by 246.3% in the 1st quarter. Lifeworks Advisors LLC now owns 24,961 shares of the data storage provider's stock valued at $2,120,000 after purchasing an additional 17,754 shares in the last quarter. AE Wealth Management LLC lifted its position in Seagate Technology by 18.3% during the 1st quarter. AE Wealth Management LLC now owns 117,082 shares of the data storage provider's stock worth $9,946,000 after acquiring an additional 18,129 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Seagate Technology by 42.0% during the 1st quarter. Venturi Wealth Management LLC now owns 3,052 shares of the data storage provider's stock worth $259,000 after acquiring an additional 902 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $153.75, for a total value of $3,075,000.00. Following the completion of the sale, the chief executive officer owned 478,912 shares in the company, valued at approximately $73,632,720. This trade represents a 4.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephanie Tilenius sold 2,693 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $128.04, for a total value of $344,811.72. Following the completion of the transaction, the director directly owned 12,244 shares of the company's stock, valued at approximately $1,567,721.76. The trade was a 18.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 426,046 shares of company stock worth $52,535,806 over the last 90 days. Insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on STX shares. Bank of America boosted their price target on Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Benchmark upped their price target on Seagate Technology from $128.00 to $165.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Rosenblatt Securities upped their price objective on Seagate Technology from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Susquehanna upped their price objective on Seagate Technology from $68.00 to $80.00 and gave the company a "negative" rating in a report on Wednesday, July 30th. Finally, TD Cowen upped their price objective on Seagate Technology from $135.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Seagate Technology presently has an average rating of "Moderate Buy" and an average price target of $151.44.

Seagate Technology Stock Performance

Shares of NASDAQ STX remained flat at $154.81 during mid-day trading on Monday. The stock had a trading volume of 2,509,635 shares, compared to its average volume of 4,361,865. The company's fifty day moving average is $139.12 and its two-hundred day moving average is $108.27. Seagate Technology Holdings PLC has a fifty-two week low of $63.19 and a fifty-two week high of $157.62. The stock has a market cap of $32.85 billion, a PE ratio of 22.87, a PEG ratio of 0.98 and a beta of 1.50.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The firm's revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, sell-side analysts predict that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

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

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Tuesday, September 30th will be given a $0.72 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.9%. Seagate Technology's dividend payout ratio (DPR) is currently 42.54%.

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.