Ascent Group LLC Boosts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Ascent Group LLC grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 4.2% during the first quarter, HoldingsChannel.com reports. The firm owned 12,534 shares of the data storage provider’s stock after acquiring an additional 507 shares during the quarter. Ascent Group LLC’s holdings in Seagate Technology were worth $1,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Seagate Technology in the 4th quarter worth about $26,000. CVA Family Office LLC purchased a new position in shares of Seagate Technology during the fourth quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $28,000. Northwest Financial Advisors purchased a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $31,000. Finally, Valley National Advisers Inc. grew its stake in Seagate Technology by 39.7% in the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 144 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on STX. Robert W. Baird lifted their target price on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wedbush upped their price objective on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Mizuho increased their target price on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Susquehanna boosted their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald increased their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Hold” and a consensus target price of $115.94.

Insiders Place Their Bets

In other news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the transaction, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP John Christopher Morris sold 5,928 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the completion of the transaction, the senior vice president now owns 12,185 shares of the company’s stock, valued at approximately $1,218,378.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,648 shares of company stock valued at $4,705,816. 0.89% of the stock is owned by company insiders.

Seagate Technology Trading Down 1.7 %

Seagate Technology stock traded down $1.71 during midday trading on Tuesday, reaching $101.67. The company’s stock had a trading volume of 542,500 shares, compared to its average volume of 2,626,228. The stock’s 50-day simple moving average is $101.45 and its 200-day simple moving average is $93.38. Seagate Technology Holdings plc has a 52-week low of $62.43 and a 52-week high of $113.57.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping 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 company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business earned ($0.29) EPS. Seagate Technology’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, research analysts anticipate that Seagate Technology Holdings plc will post 6.21 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.75%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

About Seagate Technology

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.