Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC lessened its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 21.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,313 shares of the data storage provider’s stock after selling 901 shares during the quarter. NewEdge Wealth LLC’s holdings in Seagate Technology were worth $283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lodestar Private Asset Management LLC acquired a new stake in Seagate Technology during the 4th quarter worth $213,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $240,000. Cornerstone Wealth Group LLC acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $213,000. Sequoia Financial Advisors LLC acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $372,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $84.20 on Thursday. The firm has a market capitalization of $17.64 billion, a PE ratio of -24.06, a price-to-earnings-growth ratio of 1,383.14 and a beta of 1.04. The firm’s 50-day moving average is $89.61 and its two-hundred day moving average is $81.98. Seagate Technology Holdings plc has a 1 year low of $54.32 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.19. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Analysts expect that Seagate Technology Holdings plc will post 0.05 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were paid a dividend of $0.70 per share. The ex-dividend date was Wednesday, March 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.33%. Seagate Technology’s payout ratio is -80.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on STX. Cantor Fitzgerald reissued a “neutral” rating and set a $95.00 price target on shares of Seagate Technology in a research report on Monday, March 4th. Evercore ISI began coverage on shares of Seagate Technology in a research report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price target on the stock. Susquehanna boosted their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group upped their target price on shares of Seagate Technology from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $73.00 to $115.00 in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Seagate Technology has a consensus rating of “Hold” and an average target price of $86.67.

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.