Strategic Wealth Partners Ltd. Boosts Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Strategic Wealth Partners Ltd. grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 121.0% in the 4th quarter, Holdings Channel reports. The fund owned 73,378 shares of the data storage provider’s stock after acquiring an additional 40,169 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Seagate Technology were worth $6,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Seagate Technology by 9.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider’s stock worth $4,215,000 after acquiring an additional 4,229 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Seagate Technology by 87.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider’s stock worth $740,000 after purchasing an additional 4,014 shares during the last quarter. Norges Bank acquired a new position in Seagate Technology in the fourth quarter worth about $25,729,000. Asset Management One Co. Ltd. increased its holdings in Seagate Technology by 9.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider’s stock valued at $7,360,000 after buying an additional 7,599 shares during the last quarter. Finally, Rheos Capital Works Inc. raised its stake in Seagate Technology by 2.5% during the fourth quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider’s stock valued at $28,612,000 after buying an additional 8,000 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at $46,988,047.12. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Stock Performance

Shares of STX opened at $107.79 on Friday. Seagate Technology Holdings plc has a one year low of $63.19 and a one year high of $115.32. The stock’s fifty day moving average is $84.56 and its 200-day moving average is $92.40. The firm has a market capitalization of $22.87 billion, a price-to-earnings ratio of 19.71 and a beta of 1.32.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the firm posted $0.33 EPS. Seagate Technology’s revenue was up 30.5% compared to the same quarter last year. Analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.67%. Seagate Technology’s dividend payout ratio is presently 41.62%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on STX. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Company decreased their price target on shares of Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price objective (down previously from $150.00) on shares of Seagate Technology in a research report on Wednesday, April 30th. BNP Paribas raised shares of Seagate Technology from a “strong sell” rating to a “hold” rating in a report on Friday. Finally, Mizuho lowered their target price on Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $114.11.

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.