Ieq Capital LLC Increases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

by · The Markets Daily

Ieq Capital LLC increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 13.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,142 shares of the data storage provider’s stock after purchasing an additional 3,050 shares during the period. Ieq Capital LLC’s holdings in Seagate Technology were worth $1,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Nomura Asset Management Co. Ltd. grew its position in shares of Seagate Technology by 9.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 92,733 shares of the data storage provider’s stock valued at $6,116,000 after purchasing an additional 7,849 shares during the period. Sentry Investment Management LLC purchased a new stake in shares of Seagate Technology in the third quarter valued at $73,000. NewSquare Capital LLC grew its position in shares of Seagate Technology by 1.6% in the third quarter. NewSquare Capital LLC now owns 61,448 shares of the data storage provider’s stock valued at $4,001,000 after purchasing an additional 973 shares during the period. Larson Financial Group LLC purchased a new stake in shares of Seagate Technology in the third quarter valued at $53,000. Finally, Private Advisor Group LLC grew its position in Seagate Technology by 7.4% during the third quarter. Private Advisor Group LLC now owns 16,650 shares of the data storage provider’s stock valued at $1,098,000 after acquiring an additional 1,144 shares during the period. Hedge funds and other institutional investors own 85.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on STX. Wedbush reissued a “neutral” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Thursday. Morgan Stanley boosted their price target on Seagate Technology from $60.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. Bank of America boosted their price target on Seagate Technology from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. Cantor Fitzgerald began coverage on Seagate Technology in a research report on Tuesday. They set a “neutral” rating and a $90.00 price target for the company. Finally, The Goldman Sachs Group boosted their price target on Seagate Technology from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $78.35.

View Our Latest Stock Analysis on Seagate Technology

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the transaction, the executive vice president now owns 24,289 shares of the company’s stock, valued at approximately $2,064,565. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Seagate Technology news, EVP Ban Seng Teh sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $85.00, for a total transaction of $850,000.00. Following the transaction, the executive vice president now owns 24,289 shares of the company’s stock, valued at approximately $2,064,565. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Gianluca Romano sold 475 shares of the firm’s stock in a transaction that occurred on Saturday, December 9th. The stock was sold at an average price of $80.59, for a total value of $38,280.25. Following the completion of the sale, the chief financial officer now directly owns 63,874 shares in the company, valued at approximately $5,147,605.66. The disclosure for this sale can be found here. Insiders have sold a total of 98,976 shares of company stock valued at $7,793,161 in the last quarter. Insiders own 0.89% of the company’s stock.

Seagate Technology Trading Down 0.6 %

NASDAQ STX traded down $0.55 during mid-day trading on Friday, reaching $90.44. 3,071,089 shares of the company’s stock traded hands, compared to its average volume of 2,344,965. Seagate Technology Holdings plc has a 1-year low of $54.32 and a 1-year high of $92.04. The company has a fifty day simple moving average of $82.11 and a 200-day simple moving average of $71.83. The company has a market cap of $18.92 billion, a price-to-earnings ratio of -25.84 and a beta of 1.06.

Seagate Technology (NASDAQ:STX – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The data storage provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the business posted $0.37 EPS. The firm’s quarterly revenue was down 28.6% compared to the same quarter last year. Equities research analysts forecast that Seagate Technology Holdings plc will post -0.27 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Wednesday, March 20th. Seagate Technology’s dividend payout ratio is presently -80.00%.

Seagate Technology Profile

(Free Report)

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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