Level Four Advisory Services LLC Invests $255,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Level Four Advisory Services LLC acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,981 shares of the data storage provider’s stock, valued at approximately $255,000.

Other large investors have also recently made changes to their positions in the company. CWM LLC raised its holdings in shares of Seagate Technology by 3.9% in the 4th quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after purchasing an additional 130 shares in the last quarter. Valley National Advisers Inc. grew its position in shares of Seagate Technology by 39.7% in the 4th 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 last quarter. NewEdge Wealth LLC grew its position in shares of Seagate Technology by 3.6% in the 3rd quarter. NewEdge Wealth LLC now owns 4,214 shares of the data storage provider’s stock valued at $278,000 after buying an additional 146 shares during the last quarter. Brighton Jones LLC grew its position in shares of Seagate Technology by 0.8% in the 4th quarter. Brighton Jones LLC now owns 18,754 shares of the data storage provider’s stock valued at $1,601,000 after buying an additional 150 shares during the last quarter. Finally, Mariner LLC grew its position in shares of Seagate Technology by 0.6% in the 3rd quarter. Mariner LLC now owns 29,616 shares of the data storage provider’s stock valued at $1,953,000 after buying an additional 185 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STX has been the topic of several research reports. Barclays lowered their price objective on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. UBS Group raised their price objective on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research 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 on the stock in a research report on Wednesday, May 1st. Evercore ISI initiated coverage on shares of Seagate Technology in a research report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price objective on the stock. Finally, Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine 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 price target of $95.50.

Insiders Place Their Bets

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the transaction, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Seagate Technology Stock Down 1.3 %

Shares of NASDAQ STX opened at $93.46 on Friday. Seagate Technology Holdings plc has a 52 week low of $57.06 and a 52 week high of $101.26. The firm has a 50-day moving average price of $89.41 and a 200 day moving average price of $85.86. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of -72.45, a price-to-earnings-growth ratio of 193.66 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business earned ($0.43) EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. Equities research analysts expect that Seagate Technology Holdings plc will post 0.4 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s payout ratio is currently -217.05%.

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.