Focus Partners Wealth Grows Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Focus Partners Wealth increased its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 81.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,457 shares of the data storage provider's stock after buying an additional 6,483 shares during the period. Focus Partners Wealth's holdings in Seagate Technology were worth $1,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of STX. JFS Wealth Advisors LLC lifted its stake in 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 purchasing an additional 113 shares in the last quarter. Human Investing LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth about $48,000. Mizuho Bank Ltd. lifted its position in shares of Seagate Technology by 140.0% in the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock worth $52,000 after buying an additional 350 shares in the last quarter. Johnson Financial Group Inc. boosted its stake in Seagate Technology by 22.7% during the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after buying an additional 112 shares during the last quarter. Finally, S.A. Mason LLC purchased a new position in Seagate Technology during the 4th quarter valued at approximately $55,000. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STX has been the subject of a number of research reports. BNP Paribas upgraded Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday. Bank of America reduced their target price on shares of Seagate Technology from $130.00 to $112.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Wedbush reaffirmed an "outperform" rating and issued a $140.00 price target (down previously from $150.00) on shares of Seagate Technology in a report on Wednesday, April 30th. Summit Insights upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Finally, UBS Group lifted their target price on Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $114.11.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the sale, the chief executive officer now owns 555,677 shares of the company's stock, valued at $46,988,047.12. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.81% of the company's stock.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $107.79 on Friday. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32. The firm has a market capitalization of $22.87 billion, a price-to-earnings ratio of 19.71 and a beta of 1.32. The stock has a 50 day moving average price of $84.56 and a 200 day moving average price of $92.40.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion for 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 business's revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.33 EPS. Analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, June 25th. Seagate Technology's dividend payout ratio (DPR) is 41.62%.

About Seagate Technology

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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