International Assets Investment Management LLC Invests $15.34 Million in Seagate Technology Holdings plc (NASDAQ:STX)

International Assets Investment Management LLC purchased a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 179,704 shares of the data storage provider’s stock, valued at approximately $15,341,000.

Several other large investors have also recently bought and sold shares of STX. Valley National Advisers Inc. grew its stake in Seagate Technology by 39.7% during the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 144 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Seagate Technology by 12.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,950 shares of the data storage provider’s stock valued at $6,057,000 after purchasing an additional 7,771 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after purchasing an additional 561 shares in the last quarter. Allworth Financial LP increased its stake in Seagate Technology by 31.3% in the 4th quarter. Allworth Financial LP now owns 1,957 shares of the data storage provider’s stock valued at $167,000 after buying an additional 466 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Seagate Technology by 5.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 77,822 shares of the data storage provider’s stock worth $6,754,000 after buying an additional 4,248 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Up 1.4 %

Shares of NASDAQ:STX opened at $87.50 on Friday. The business has a 50 day moving average price of $89.18 and a 200 day moving average price of $83.53. The company has a market cap of $18.37 billion, a price-to-earnings ratio of -67.83, a PEG ratio of 239.31 and a beta of 1.06. Seagate Technology Holdings plc has a twelve month low of $54.47 and a twelve month high of $101.26.

Seagate Technology (NASDAQ:STX) last announced 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 company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The company’s revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) EPS. Analysts anticipate that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on STX shares. TD Cowen increased their price objective on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. BNP Paribas cut Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target for the company. in a research note on Thursday, January 11th. Wells Fargo & Company increased their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Evercore ISI assumed coverage on shares of Seagate Technology in a report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $94.53.

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.