NewEdge Wealth LLC Decreases Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

NewEdge Wealth LLC lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 21.4% in the fourth quarter, Holdings Channel reports. The fund owned 3,313 shares of the data storage provider’s stock after selling 901 shares during the quarter. NewEdge Wealth LLC’s holdings in Seagate Technology were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Seagate Technology in the 4th quarter valued at approximately $26,000. CVA Family Office LLC acquired a new position in shares of Seagate Technology in the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Seagate Technology in the 4th quarter valued at approximately $28,000. Parkside Financial Bank & Trust raised its position in shares of Seagate Technology by 85.4% in the 3rd 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, Valley National Advisers Inc. raised 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 purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. The Goldman Sachs Group upped their target price on Seagate Technology from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Susquehanna upped their price target on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald reissued a “neutral” rating and set a $95.00 price target on shares of Seagate Technology in a research report on Monday, March 4th. Wedbush reissued a “neutral” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Thursday, January 25th. Finally, Barclays upped their price target on Seagate Technology from $65.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $86.67.

Seagate Technology Stock Performance

NASDAQ:STX opened at $84.20 on Thursday. Seagate Technology Holdings plc has a 1 year low of $54.32 and a 1 year high of $101.26. The stock has a market cap of $17.64 billion, a price-to-earnings ratio of -24.06, a PEG ratio of 1,383.14 and a beta of 1.04. The business has a fifty day moving average of $89.61 and a 200-day moving average of $81.98.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.19. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. On average, equities research analysts predict that Seagate Technology Holdings plc will post 0.05 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were paid a $0.70 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. Seagate Technology’s payout ratio is -80.00%.

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.