Nicholas Hoffman & Company LLC. Buys New Position in Seagate Technology Holdings plc (NASDAQ:STX)

Nicholas Hoffman & Company LLC. acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,594 shares of the data storage provider’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Seagate Technology in the fourth quarter worth $26,000. CVA Family Office LLC bought a new position in shares of Seagate Technology during the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Seagate Technology during the fourth quarter worth $28,000. Parkside Financial Bank & Trust boosted its position in shares of Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 205 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Seagate Technology during the fourth quarter worth $36,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Wedbush restated a “neutral” rating and set a $100.00 target price on shares of Seagate Technology in a research report on Thursday, January 25th. Evercore ISI started coverage on shares of Seagate Technology in a research report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 target price for the company. BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research report on Thursday, January 11th. Finally, Rosenblatt Securities increased their price objective 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $92.07.

Seagate Technology Stock Performance

Seagate Technology stock opened at $82.46 on Monday. The firm has a 50-day moving average price of $89.38 and a 200-day moving average price of $82.34. Seagate Technology Holdings plc has a 12-month low of $54.32 and a 12-month high of $101.26.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.19. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.56 billion. As a group, analysts predict that Seagate Technology Holdings plc will post 0.1 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.40%. The ex-dividend date was Wednesday, March 20th. Seagate Technology’s dividend payout ratio is presently -80.00%.

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.