International Assets Investment Management LLC acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 179,704 shares of the data storage provider's stock, valued at approximately $15,341,000. International Assets Investment Management LLC owned approximately 0.09% of Seagate Technology as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in STX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Seagate Technology in the fourth quarter valued at $26,000. CVA Family Office LLC purchased a new position in Seagate Technology during the fourth quarter worth about $27,000. Parkside Financial Bank & Trust lifted its position in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider's stock worth $29,000 after buying an additional 205 shares during the period. Exchange Traded Concepts LLC purchased a new position in Seagate Technology during the fourth quarter worth about $43,000. Finally, Valley National Advisers Inc. lifted its position in Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider's stock worth $43,000 after buying an additional 144 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
Seagate Technology Price Performance
Shares of NASDAQ STX traded up $1.21 during mid-day trading on Friday, hitting $87.50. The company had a trading volume of 1,655,351 shares, compared to its average volume of 3,027,261. The stock has a market cap of $18.37 billion, a price-to-earnings ratio of -67.83, a PEG ratio of 242.66 and a beta of 1.06. Seagate Technology Holdings plc has a 12 month low of $54.47 and a 12 month high of $101.26. The firm's 50 day simple moving average is $89.18 and its two-hundred day simple moving average is $83.63.
Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted ($0.43) EPS. The company's revenue for the quarter was down 11.0% on a year-over-year basis. Equities analysts forecast that Seagate Technology Holdings plc will post 0.3 earnings per share for the current year.
Seagate Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology's dividend payout ratio is currently -217.05%.
Analysts Set New Price Targets
Several research firms recently weighed in on STX. BNP Paribas downgraded Seagate Technology from a "neutral" rating to an "underperform" rating and set a $65.00 target price on the stock. in a research report on Thursday, January 11th. Robert W. Baird increased their target price on Seagate Technology from $70.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, January 25th. Evercore ISI began coverage on Seagate Technology in a research report on Tuesday, February 27th. They set an "outperform" rating and a $110.00 target price on the stock. Morgan Stanley upgraded Seagate Technology from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Finally, Susquehanna upped their price target on Seagate Technology from $50.00 to $55.00 and gave the stock a "negative" rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $94.53.
Read Our Latest Stock Analysis on STX
About Seagate Technology
(
Free Report)
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.
Further Reading
Before you consider Seagate Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Seagate Technology wasn't on the list.
While Seagate Technology currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
