Benjamin Edwards Inc. Sells 1,224 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Benjamin Edwards Inc. reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,258 shares of the data storage provider’s stock after selling 1,224 shares during the quarter. Benjamin Edwards Inc.’s holdings in Seagate Technology were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. JFS Wealth Advisors LLC boosted its stake in Seagate Technology by 27.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Human Investing LLC purchased a new stake in shares of Seagate Technology during the fourth quarter valued at $48,000. Mizuho Bank Ltd. increased its holdings in Seagate Technology by 140.0% in the 4th quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider’s stock worth $52,000 after buying an additional 350 shares in the last quarter. Johnson Financial Group Inc. raised its position in Seagate Technology by 22.7% in the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after buying an additional 112 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Seagate Technology during the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on STX shares. StockNews.com cut shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Seagate Technology in a report on Wednesday, April 30th. UBS Group increased their target price on Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company cut their price target on Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.89.

Seagate Technology Stock Down 0.6 %

NASDAQ:STX opened at $95.71 on Friday. The stock has a market cap of $20.26 billion, a PE ratio of 17.50 and a beta of 1.32. The business’s 50-day simple moving average is $82.82 and its two-hundred day simple moving average is $92.35. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 30.5% on a year-over-year basis. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.01%. Seagate Technology’s dividend payout ratio is currently 41.62%.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the transaction, the chief executive officer now owns 555,677 shares in the company, valued at $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology 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.