New York Life Investment Management LLC Increases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

New York Life Investment Management LLC boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 30,723 shares of the data storage provider’s stock after buying an additional 450 shares during the period. New York Life Investment Management LLC’s holdings in Seagate Technology were worth $2,623,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Seagate Technology in the fourth quarter valued at $26,000. CVA Family Office LLC purchased a new stake in Seagate Technology in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Seagate Technology in the 4th quarter worth about $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 valued at $29,000 after buying an additional 205 shares during the period. Finally, Valley National Advisers Inc. boosted its position in shares of Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after buying an additional 144 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Up 1.4 %

Shares of Seagate Technology stock opened at $87.50 on Monday. Seagate Technology Holdings plc has a 52-week low of $54.47 and a 52-week high of $101.26. The firm’s 50 day moving average price is $89.18 and its 200-day moving average price is $83.63. The company has a market cap of $18.37 billion, a P/E ratio of -67.83, a PEG ratio of 242.66 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.43) earnings per share. As a group, equities research analysts forecast that Seagate Technology Holdings plc will post 0.3 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio is presently -217.05%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on STX shares. The Goldman Sachs Group boosted their price objective on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Cantor Fitzgerald upped their price target on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Susquehanna lifted their price objective on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a report on Wednesday, April 10th. TD Cowen upped their target price on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $94.53.

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.