GoalVest Advisory LLC Increases Position in Seagate Technology Holdings PLC $STX

GoalVest Advisory LLC increased its stake in Seagate Technology Holdings PLC (NASDAQ:STX) by 30.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 320 shares of the data storage provider’s stock after purchasing an additional 75 shares during the quarter. GoalVest Advisory LLC’s holdings in Seagate Technology were worth $46,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology in the 2nd quarter valued at about $27,000. Wayfinding Financial LLC purchased a new position in shares of Seagate Technology in the 1st quarter valued at about $31,000. Golden State Wealth Management LLC increased its holdings in shares of Seagate Technology by 2,200.0% in the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider’s stock valued at $39,000 after purchasing an additional 440 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Seagate Technology in the 1st quarter valued at about $42,000. Finally, Costello Asset Management INC purchased a new position in shares of Seagate Technology in the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $230.32 on Tuesday. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $264.83. The stock has a market capitalization of $49.05 billion, a P/E ratio of 34.02, a P/E/G ratio of 1.03 and a beta of 1.63. The firm’s 50-day moving average is $206.12 and its two-hundred day moving average is $152.38.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.14. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current year.

Insider Activity at Seagate Technology

In other Seagate Technology news, insider James Ci Lee sold 1,116 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $153.36, for a total transaction of $171,149.76. Following the sale, the insider directly owned 257 shares of the company’s stock, valued at $39,413.52. This trade represents a 81.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 1,410 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $225.56, for a total transaction of $318,039.60. Following the sale, the executive vice president directly owned 18,041 shares in the company, valued at $4,069,327.96. This represents a 7.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,620 shares of company stock worth $14,464,056 over the last three months. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STX. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $175.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Susquehanna increased their price objective on shares of Seagate Technology from $68.00 to $80.00 and gave the company a “negative” rating in a research note on Wednesday, July 30th. TD Cowen increased their price objective on shares of Seagate Technology from $135.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Sanford C. Bernstein increased their price objective on shares of Seagate Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, UBS Group increased their price objective on shares of Seagate Technology from $155.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.65.

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.