NewEdge Advisors LLC Grows Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

NewEdge Advisors LLC lifted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 2,103.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,219 shares of the data storage provider’s stock after purchasing an additional 46,985 shares during the period. NewEdge Advisors LLC’s holdings in Seagate Technology were worth $5,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Capital Research Global Investors grew its stake in Seagate Technology by 39.3% in the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after acquiring an additional 4,685,454 shares during the period. Vanguard Group Inc. grew its position in shares of Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after purchasing an additional 746,395 shares during the period. Putnam Investments LLC increased its stake in shares of Seagate Technology by 124.3% during the fourth quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock worth $58,091,000 after purchasing an additional 377,148 shares in the last quarter. Delta Global Management LP acquired a new position in shares of Seagate Technology during the 1st quarter worth about $33,478,000. Finally, Point72 Hong Kong Ltd purchased a new position in Seagate Technology in the 2nd quarter valued at about $35,349,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 4,872 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the sale, the executive vice president now owns 9,969 shares in the company, valued at approximately $1,096,590. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the sale, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. Insiders sold a total of 203,284 shares of company stock worth $21,647,287 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

STX has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Benchmark restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, July 24th. Wedbush upped their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Bank of America reissued a “buy” rating and issued a $110.00 price target on shares of Seagate Technology in a research note on Wednesday, June 5th. Finally, Barclays upped their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Trading Down 1.6 %

Shares of NASDAQ:STX opened at $107.82 on Wednesday. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of -83.58 and a beta of 1.03. Seagate Technology Holdings plc has a 12-month low of $64.12 and a 12-month high of $113.57. The business has a 50-day moving average price of $101.44 and a 200 day moving average price of $97.29.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm earned ($0.29) EPS. The business’s revenue was up 17.8% on a year-over-year basis. As a group, equities research analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is -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.