Sowell Financial Services LLC Makes New $200,000 Investment in Seagate Technology Holdings PLC (NASDAQ:STX)

Sowell Financial Services LLC bought a new stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,356 shares of the data storage provider's stock, valued at approximately $200,000.

A number of other large investors have also recently modified their holdings of STX. Capital Research Global Investors lifted its stake in Seagate Technology by 56.5% in the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after purchasing an additional 5,640,443 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 in the last quarter. Marshall Wace LLP bought a new position in shares of Seagate Technology in the 4th quarter valued at $77,341,000. Junto Capital Management LP acquired a new stake in shares of Seagate Technology during the 4th quarter valued at $60,303,000. Finally, Janus Henderson Group PLC grew its position in Seagate Technology by 2,853.4% during the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock worth $57,925,000 after acquiring an additional 648,257 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

STX has been the subject of several research reports. Cantor Fitzgerald increased their target price on Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Wells Fargo & Company raised their price objective on shares of Seagate Technology from $105.00 to $122.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Morgan Stanley lifted their target price on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Barclays upped their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $130.00 price target on shares of Seagate Technology in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus price target of $119.42.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares of the company's stock, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Judy Bruner sold 10,446 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $108.71, for a total value of $1,135,584.66. Following the transaction, the director now directly owns 12,268 shares in the company, valued at $1,333,654.28. The trade was a 45.99% 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 valued at $46,380,998 over the last ninety days. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Trading Down 0.3%

STX stock opened at $130.96 on Monday. The firm has a market cap of $27.79 billion, a PE ratio of 18.92 and a beta of 1.40. The stock has a 50-day moving average price of $104.92 and a 200-day moving average price of $96.13. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $133.76.

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

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio is presently 41.62%.

Seagate Technology declared that its board has authorized a share 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 repurchase up to 21.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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.

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