Sequoia Financial Advisors LLC Takes $372,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

Sequoia Financial Advisors LLC acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,353 shares of the data storage provider’s stock, valued at approximately $372,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology in the 4th quarter valued at about $28,000. International Assets Investment Management LLC bought a new position in shares of Seagate Technology in the fourth quarter worth approximately $15,341,000. Valley National Advisers Inc. raised its stake in Seagate Technology by 39.7% in the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after purchasing an additional 144 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Seagate Technology by 12.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,950 shares of the data storage provider’s stock worth $6,057,000 after buying an additional 7,771 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in shares of Seagate Technology by 8.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after buying an additional 561 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $83.44 on Friday. The stock’s 50-day moving average is $89.61 and its 200 day moving average is $81.98. The company has a market cap of $17.48 billion, a PE ratio of -23.84, a P/E/G ratio of 1,383.14 and a beta of 1.04. Seagate Technology Holdings plc has a 1 year low of $54.32 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.19. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Analysts expect that Seagate Technology Holdings plc will post 0.05 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were given a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.36%. Seagate Technology’s dividend payout ratio is -80.00%.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. TD Cowen lifted their price target on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Robert W. Baird upped their target price on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Rosenblatt Securities increased their price target on shares of Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Mizuho restated a “buy” rating and issued a $100.00 price objective on shares of Seagate Technology in a report on Tuesday, April 9th. Finally, Evercore ISI began coverage on shares of Seagate Technology in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Hold” and a consensus target price of $86.67.

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.