NorthRock Partners LLC Takes $324,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

NorthRock Partners LLC acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,758 shares of the data storage provider's stock, valued at approximately $324,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock worth $2,414,446,000 after buying an additional 1,814,821 shares during the last quarter. Sanders Capital LLC raised its stake in Seagate Technology by 1.0% during the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider's stock worth $1,426,717,000 after buying an additional 162,561 shares during the period. Capital Research Global Investors lifted its holdings in Seagate Technology by 56.5% during the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock worth $1,348,262,000 after acquiring an additional 5,640,443 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Seagate Technology by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider's stock worth $370,013,000 after acquiring an additional 132,713 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock valued at $238,348,000 after acquiring an additional 352,300 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on STX. Barclays lifted their price objective on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Morgan Stanley reduced their price target on shares of Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a report on Tuesday, January 21st. UBS Group raised their price objective on shares of Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Summit Insights raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Finally, BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday. One equities 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 stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $116.21.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Price Performance

STX traded down $2.07 during trading on Tuesday, hitting $106.97. The stock had a trading volume of 3,404,138 shares, compared to its average volume of 2,925,765. The company has a 50 day moving average price of $85.44 and a 200-day moving average price of $92.52. Seagate Technology Holdings plc has a one year low of $63.19 and a one year high of $115.32. The firm has a market cap of $22.70 billion, a price-to-earnings ratio of 19.56 and a beta of 1.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 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 analyst estimates of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. Seagate Technology's revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period last year, the firm earned $0.33 earnings per share. As a group, sell-side analysts predict that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors 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 2.69%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 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.