Hennion & Walsh Asset Management Inc. Raises Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Hennion & Walsh Asset Management Inc. boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 40.7% in the first quarter, HoldingsChannel reports. The fund owned 11,708 shares of the data storage provider’s stock after purchasing an additional 3,386 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Seagate Technology were worth $1,089,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STX. New York State Common Retirement Fund lifted its holdings in shares of Seagate Technology by 68.8% during the 4th quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock valued at $12,212,000 after purchasing an additional 58,300 shares during the last quarter. JPMorgan Chase & Co. increased its position in Seagate Technology by 9.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after buying an additional 1,485,937 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Seagate Technology by 8.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after acquiring an additional 561 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new stake in shares of Seagate Technology during the fourth quarter worth about $230,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Seagate Technology by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock valued at $11,620,000 after acquiring an additional 1,419 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at approximately $504,200. The disclosure for this sale can be found here. Insiders sold 37,531 shares of company stock worth $3,592,946 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Trading Down 0.8 %

Shares of STX opened at $103.27 on Monday. The stock has a 50 day moving average price of $95.41 and a 200 day moving average price of $90.25. Seagate Technology Holdings plc has a one year low of $57.32 and a one year high of $107.91.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Seagate Technology’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) earnings per share. Equities analysts anticipate that Seagate Technology Holdings plc will post 0.44 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STX. Wedbush raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Wednesday, May 1st. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. UBS Group raised their price target on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, The Goldman Sachs Group increased their target price on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $98.29.

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.