Brookstone Capital Management Purchases Shares of 23,850 Seagate Technology Holdings plc (NASDAQ:STX)

Brookstone Capital Management bought a new position in Seagate Technology Holdings plc (NASDAQ:STXGet Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,850 shares of the data storage provider’s stock, valued at approximately $1,786,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 180 Wealth Advisors LLC increased its holdings in shares of Seagate Technology by 69.1% during the 2nd quarter. 180 Wealth Advisors LLC now owns 4,602 shares of the data storage provider’s stock worth $318,000 after buying an additional 1,881 shares during the last quarter. Affinity Capital Advisors LLC acquired a new stake in Seagate Technology during the second quarter worth about $568,000. Windward Capital Management Co. CA raised its holdings in shares of Seagate Technology by 0.6% in the 2nd quarter. Windward Capital Management Co. CA now owns 60,579 shares of the data storage provider’s stock worth $4,328,000 after purchasing an additional 379 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $7,119,000. Finally, NuWave Investment Management LLC grew its holdings in shares of Seagate Technology by 12.2% during the 2nd quarter. NuWave Investment Management LLC now owns 1,531 shares of the data storage provider’s stock worth $109,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Seagate Technology Trading Down 2.2 %

Shares of NASDAQ STX opened at $59.93 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 46.44. The stock’s 50 day moving average price is $74.55 and its two-hundred day moving average price is $79.85. Seagate Technology Holdings plc has a 52-week low of $59.22 and a 52-week high of $117.67. The stock has a market capitalization of $12.39 billion, a P/E ratio of 8.16, a PEG ratio of 10.36 and a beta of 1.11.

Seagate Technology (NASDAQ:STXGet Rating) last posted its quarterly earnings results on Thursday, July 21st. The data storage provider reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.33). The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.80 billion. Seagate Technology had a net margin of 14.14% and a return on equity of 412.90%. During the same period in the prior year, the company posted $1.92 earnings per share. On average, analysts anticipate that Seagate Technology Holdings plc will post 4.95 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Tuesday, September 20th. Seagate Technology’s dividend payout ratio is presently 38.15%.

Analysts Set New Price Targets

Several research firms recently commented on STX. Susquehanna Bancshares cut their price target on shares of Seagate Technology from $67.00 to $58.00 and set a “negative” rating on the stock in a report on Friday, July 22nd. Stifel Nicolaus reduced their target price on shares of Seagate Technology from $120.00 to $97.00 and set a “buy” rating on the stock in a report on Thursday, September 1st. Rosenblatt Securities lowered their price target on Seagate Technology from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, September 1st. Benchmark cut Seagate Technology from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Finally, Northland Securities lowered their target price on Seagate Technology from $105.00 to $88.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.48.

Seagate Technology Company Profile

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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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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