J.W. Cole Advisors Inc. Acquires New Position in Seagate Technology Holdings plc (NASDAQ:STX)

J.W. Cole Advisors Inc. acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STXGet Rating) in the 1st quarter, Holdings Channel.com reports. The firm acquired 31,998 shares of the data storage provider’s stock, valued at approximately $80,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Syntax Advisors LLC lifted its stake in shares of Seagate Technology by 5.1% in the first quarter. Syntax Advisors LLC now owns 2,793 shares of the data storage provider’s stock valued at $251,000 after purchasing an additional 136 shares during the period. Brighton Jones LLC raised its position in Seagate Technology by 0.5% during the first quarter. Brighton Jones LLC now owns 28,271 shares of the data storage provider’s stock worth $2,542,000 after acquiring an additional 140 shares during the last quarter. Clearstead Advisors LLC raised its position in Seagate Technology by 0.5% during the first quarter. Clearstead Advisors LLC now owns 26,126 shares of the data storage provider’s stock worth $2,349,000 after acquiring an additional 141 shares during the last quarter. FinTrust Capital Advisors LLC raised its position in Seagate Technology by 26.9% during the first quarter. FinTrust Capital Advisors LLC now owns 726 shares of the data storage provider’s stock worth $66,000 after acquiring an additional 154 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC raised its position in Seagate Technology by 5.5% during the first quarter. Balasa Dinverno & Foltz LLC now owns 2,952 shares of the data storage provider’s stock worth $265,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Seagate Technology Trading Down 1.2 %

NASDAQ STX opened at $58.84 on Friday. The company’s fifty day simple moving average is $73.91 and its 200-day simple moving average is $79.43. Seagate Technology Holdings plc has a 52 week low of $58.56 and a 52 week high of $117.67. The company has a current ratio of 1.13, a quick ratio of 0.69 and a debt-to-equity ratio of 46.44. The stock has a market cap of $12.17 billion, a P/E ratio of 8.02, a PEG ratio of 10.01 and a beta of 1.11.

Seagate Technology (NASDAQ:STXGet Rating) last posted its earnings results on Thursday, July 21st. The data storage provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 412.90% and a net margin of 14.14%. During the same period in the previous year, the firm posted $1.92 earnings per share. Equities research analysts predict that Seagate Technology Holdings plc will post 4.95 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.80 annualized dividend and a yield of 4.76%. Seagate Technology’s payout ratio is 38.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STX shares. Citigroup cut their target price on shares of Seagate Technology from $79.00 to $75.00 in a research report on Friday, July 22nd. Susquehanna cut their target price on shares of Seagate Technology from $67.00 to $58.00 in a research report on Friday, July 22nd. Northland Securities lowered their price target on shares of Seagate Technology from $105.00 to $88.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. Credit Suisse Group lowered their price target on shares of Seagate Technology from $80.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, September 1st. Finally, Summit Insights downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Hold” and a consensus price target 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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