Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC lessened its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 2.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,711 shares of the data storage provider’s stock after selling 134 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Seagate Technology were worth $573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Seagate Technology in the 4th quarter worth approximately $26,000. CVA Family Office LLC purchased a new position in shares of Seagate Technology during the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Seagate Technology during the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust lifted its position in shares of Seagate Technology by 85.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Seagate Technology during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STX. Robert W. Baird increased their target price on Seagate Technology from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Susquehanna raised their price objective on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a report on Wednesday, April 10th. Wells Fargo & Company raised their price objective on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Barclays decreased their price objective on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Finally, BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a report on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $94.53.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded down $1.22 during midday trading on Friday, reaching $86.04. 3,637,434 shares of the company’s stock were exchanged, compared to its average volume of 3,003,319. The firm’s 50 day simple moving average is $89.25 and its two-hundred day simple moving average is $82.81. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of -66.70, a P/E/G ratio of 480.77 and a beta of 1.04. Seagate Technology Holdings plc has a fifty-two week low of $54.47 and a fifty-two week high of $101.26.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The business’s revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) earnings per share. Equities research analysts predict that Seagate Technology Holdings plc will post 0.15 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.

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.