Wealth Enhancement Advisory Services LLC Increases Position in Seagate Technology Holdings PLC (NASDAQ:STX)

Wealth Enhancement Advisory Services LLC lifted its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 18.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,122 shares of the data storage provider's stock after purchasing an additional 2,611 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Seagate Technology were worth $1,454,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Seagate Technology by 6.9% in 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 lifted its holdings in shares of Seagate Technology by 1.0% in 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 grew its holdings in Seagate Technology by 56.5% during the 4th 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 increased 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 valued at $370,013,000 after buying an additional 132,713 shares during the period. Finally, Invesco Ltd. raised its position in shares of Seagate Technology by 14.6% in the 4th quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider's stock worth $238,348,000 after acquiring an additional 352,300 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Transactions at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 63,418 shares of Seagate Technology stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $125.00, for a total transaction of $7,927,250.00. Following the completion of the transaction, the executive vice president directly owned 14,658 shares of the company's stock, valued at $1,832,250. The trade was a 81.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William D. Mosley sold 70,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $109.47, for a total transaction of $7,662,900.00. Following the completion of the transaction, the chief executive officer directly owned 485,677 shares in the company, valued at approximately $53,167,061.19. This represents a 12.60% 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 $47,582,998 in the last ninety days. Corporate insiders own 0.81% of the company's stock.

Analyst Ratings Changes

STX has been the subject of several research analyst reports. Wall Street Zen cut Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Mizuho cut their price target on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Citigroup boosted their target price on shares of Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Wedbush reiterated an "outperform" rating and set a $140.00 price target on shares of Seagate Technology in a report on Wednesday, May 21st. Finally, BNP Paribas Exane raised Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 target price on the stock in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $119.42.

Seagate Technology Trading Up 4.8%

STX stock traded up $6.90 during mid-day trading on Wednesday, hitting $151.94. The stock had a trading volume of 6,702,555 shares, compared to its average volume of 3,176,951. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $152.00. The company has a fifty day moving average of $115.62 and a 200 day moving average of $98.56. The stock has a market capitalization of $32.24 billion, a price-to-earnings ratio of 21.96 and a beta of 1.45.

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 (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $2.14 billion. During the same period in the previous year, the business posted $0.33 earnings per share. Seagate Technology's quarterly revenue was up 30.5% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current fiscal year.

Seagate Technology declared that its board has initiated a share repurchase plan on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio is 41.62%.

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.