Waverly Advisors LLC Acquires Shares of 2,615 Seagate Technology Holdings plc (NASDAQ:STX)

Waverly Advisors LLC acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,615 shares of the data storage provider's stock, valued at approximately $226,000.

Other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its holdings in Seagate Technology by 27.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Human Investing LLC bought a new stake in shares of Seagate Technology during the fourth quarter valued at about $48,000. Mizuho Bank Ltd. increased its position in shares of Seagate Technology by 140.0% during the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider's stock valued at $52,000 after buying an additional 350 shares during the period. Johnson Financial Group Inc. increased its position in shares of 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 period. Finally, S.A. Mason LLC bought a new stake in shares of Seagate Technology during the fourth quarter valued at about $55,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Up 0.7%

Shares of NASDAQ:STX traded up $0.80 during trading on Thursday, reaching $118.14. 2,434,838 shares of the company traded hands, compared to its average volume of 2,987,883. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 21.60 and a beta of 1.32. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $119.25. The business's fifty day moving average is $88.25 and its 200-day moving average is $92.97.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's payout ratio is 41.62%.

Seagate Technology declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays upped their price target on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Morgan Stanley upped their price objective 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. BNP Paribas Exane upgraded shares of Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a research report on Friday, May 16th. Wedbush restated an "outperform" rating and issued a $140.00 price objective on shares of Seagate Technology in a research report on Wednesday, May 21st. Finally, Cantor Fitzgerald upped their price objective on shares of Seagate Technology from $110.00 to $125.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $118.89.

Insider Buying and Selling

In other Seagate Technology news, SVP Kian Fatt Chong sold 6,410 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $111.26, for a total transaction of $713,176.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 4,201 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $115.00, for a total value of $483,115.00. Following the transaction, the executive vice president now directly owns 22,999 shares of the company's stock, valued at $2,644,885. This represents a 15.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,057 shares of company stock valued at $11,685,976 over the last quarter. 0.81% of the stock is owned by company insiders.

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.