Exchange Traded Concepts LLC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,160 shares of the data storage provider’s stock, valued at approximately $284,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in STX. FSB Premier Wealth Management Inc. acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $26,000. Tyler Stone Wealth Management acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $28,000. Chilton Capital Management LLC acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $33,000. TCTC Holdings LLC acquired a new position in shares of Seagate Technology during the 4th quarter valued at about $34,000. Finally, Old North State Trust LLC boosted its position in shares of Seagate Technology by 43.0% during the 4th quarter. Old North State Trust LLC now owns 426 shares of the data storage provider’s stock valued at $48,000 after acquiring an additional 128 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.
Seagate Technology Stock Up 2.6 %
STX stock opened at $77.58 on Friday. The company’s 50 day moving average price is $78.03 and its 200 day moving average price is $90.72. The company has a debt-to-equity ratio of 13.33, a quick ratio of 0.96 and a current ratio of 1.48. Seagate Technology Holdings plc has a fifty-two week low of $67.36 and a fifty-two week high of $117.67. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 6.86 and a beta of 1.05.
Seagate Technology (NASDAQ:STX – Get Rating) last released its earnings results on Wednesday, April 27th. The data storage provider reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.03). Seagate Technology had a return on equity of 339.73% and a net margin of 15.40%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Seagate Technology Holdings plc will post 7.89 EPS for the current fiscal year.
Seagate Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Friday, June 24th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, June 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.61%. Seagate Technology’s payout ratio is 34.40%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on STX. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Seagate Technology from $95.00 to $82.00 in a research report on Friday. Benchmark reduced their price objective on shares of Seagate Technology from $100.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, July 5th. The Goldman Sachs Group reduced their price objective on shares of Seagate Technology from $106.00 to $80.00 in a report on Friday. Wells Fargo & Company reduced their price objective on shares of Seagate Technology from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Barclays reduced their price objective on shares of Seagate Technology from $85.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 21st. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Seagate Technology has an average rating of “Moderate Buy” and an average target price of $95.53.
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.
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