IFG Advisory LLC Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

IFG Advisory LLC bought a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,616 shares of the data storage provider’s stock, valued at approximately $477,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Northwest Financial Advisors bought a new stake in Seagate Technology in the fourth quarter valued at about $31,000. Family Firm Inc. bought a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $41,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $44,000. ICA Group Wealth Management LLC acquired a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $47,000. Finally, Richardson Financial Services Inc. bought a new position in Seagate Technology during the fourth quarter worth $47,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares in the company, valued at approximately $61,148,074.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the transaction, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares in the company, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,547 shares of company stock worth $7,084,361. 0.89% of the stock is owned by insiders.

Seagate Technology Trading Up 2.1 %

STX stock opened at $99.55 on Monday. The firm’s 50-day moving average is $101.89 and its two-hundred day moving average is $95.45. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of -77.17 and a beta of 1.02. Seagate Technology Holdings plc has a 52 week low of $62.43 and a 52 week high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the business posted ($0.29) earnings per share. The company’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities research analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s payout ratio is -217.05%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Loop Capital increased their price objective on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley upped their target price on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, TD Cowen raised their price target on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $115.94.

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.