Sequoia Financial Advisors LLC Purchases Shares of 4,353 Seagate Technology Holdings plc (NASDAQ:STX)

Sequoia Financial Advisors LLC acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 4,353 shares of the data storage provider’s stock, valued at approximately $372,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its position in Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after purchasing an additional 1,485,937 shares during the last quarter. BlackRock Inc. raised its position in shares of Seagate Technology by 20.5% during the 1st quarter. BlackRock Inc. now owns 15,620,098 shares of the data storage provider’s stock valued at $1,032,801,000 after buying an additional 2,662,098 shares in the last quarter. FMR LLC lifted its holdings in shares of Seagate Technology by 13.1% in the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after acquiring an additional 1,612,264 shares during the last quarter. State Street Corp grew its position in Seagate Technology by 9.6% in the first quarter. State Street Corp now owns 9,360,341 shares of the data storage provider’s stock worth $625,307,000 after acquiring an additional 819,501 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Seagate Technology by 3.0% in the third quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock worth $288,960,000 after acquiring an additional 127,214 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.9 %

Shares of NASDAQ STX opened at $83.44 on Friday. Seagate Technology Holdings plc has a twelve month low of $54.32 and a twelve month high of $101.26. The business has a fifty day simple moving average of $89.61 and a two-hundred day simple moving average of $81.98. The firm has a market cap of $17.48 billion, a PE ratio of -23.84, a price-to-earnings-growth ratio of 1,383.14 and a beta of 1.04.

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

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Thursday, March 21st were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.36%. The ex-dividend date was Wednesday, March 20th. Seagate Technology’s payout ratio is -80.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STX. BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research note on Thursday, January 11th. Mizuho restated a “buy” rating and issued a $100.00 price target on shares of Seagate Technology in a research report on Tuesday, April 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $95.00 price objective on shares of Seagate Technology in a research note on Monday, March 4th. Robert W. Baird increased their target price on shares of Seagate Technology from $70.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Finally, Evercore ISI started coverage on shares of Seagate Technology in a report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 target price for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and a consensus price target of $86.67.

About Seagate Technology

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.