Kestra Private Wealth Services LLC Raises Position in Seagate Technology Holdings plc (NASDAQ:STX)

Kestra Private Wealth Services LLC increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,619 shares of the data storage provider’s stock after acquiring an additional 229 shares during the period. Kestra Private Wealth Services LLC’s holdings in Seagate Technology were worth $1,590,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in Seagate Technology during the fourth quarter worth about $26,000. CVA Family Office LLC purchased a new stake in Seagate Technology during the fourth quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust lifted its holdings in shares of Seagate Technology by 85.4% in the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 205 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STX shares. Wells Fargo & Company upped their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. The Goldman Sachs Group upped their price target on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wedbush raised shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Wednesday. Cantor Fitzgerald boosted their price objective on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Evercore ISI began coverage on shares of Seagate Technology in a research report 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, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and an average price target of $94.53.

Seagate Technology Price Performance

Seagate Technology stock opened at $86.29 on Friday. Seagate Technology Holdings plc has a 52-week low of $54.47 and a 52-week high of $101.26. The firm has a fifty day moving average of $89.19 and a 200-day moving average of $83.30.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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. During the same period in the previous year, the company earned ($0.43) EPS. Seagate Technology’s revenue was down 11.0% on a year-over-year basis. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 0.3 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s payout ratio is currently -217.05%.

Seagate Technology Company 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.