Cetera Investment Advisers Grows Position in Seagate Technology Holdings plc (NASDAQ:STX)

Cetera Investment Advisers lifted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,710 shares of the data storage provider’s stock after purchasing an additional 6,067 shares during the quarter. Cetera Investment Advisers’ holdings in Seagate Technology were worth $6,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. SPC Financial Inc. boosted its holdings in Seagate Technology by 3.9% during the 2nd quarter. SPC Financial Inc. now owns 5,350 shares of the data storage provider’s stock valued at $552,000 after acquiring an additional 200 shares during the period. Kimelman & Baird LLC purchased a new position in shares of Seagate Technology in the 2nd quarter valued at about $1,241,000. Quarry LP purchased a new position in shares of Seagate Technology in the 2nd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Seagate Technology by 5.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,903 shares of the data storage provider’s stock valued at $919,000 after buying an additional 433 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Seagate Technology by 2,103.2% in the 2nd quarter. NewEdge Advisors LLC now owns 49,219 shares of the data storage provider’s stock valued at $5,083,000 after buying an additional 46,985 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 1.0 %

NASDAQ:STX opened at $106.13 on Tuesday. The firm has a market cap of $22.34 billion, a P/E ratio of -82.27 and a beta of 1.04. The stock’s 50 day simple moving average is $101.69 and its 200-day simple moving average is $98.02. Seagate Technology Holdings plc has a 12-month low of $64.12 and a 12-month high of $113.57.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.29) earnings per share. Research analysts forecast that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 23rd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, September 23rd. Seagate Technology’s payout ratio is currently -217.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on STX. Robert W. Baird lifted their price objective on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their price objective on Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Morgan Stanley lifted their price objective on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Loop Capital raised their target price on Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays raised their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $115.94.

Insider Activity at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares in the company, valued at approximately $73,668,110.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 223,284 shares of company stock worth $23,800,887 over the last three months. 0.89% of the stock is currently owned by corporate insiders.

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.