Farther Finance Advisors LLC Has $490,000 Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Farther Finance Advisors LLC increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 22.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,791 shares of the data storage provider’s stock after purchasing an additional 1,067 shares during the quarter. Farther Finance Advisors LLC’s holdings in Seagate Technology were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in STX. Tidal Investments LLC grew its holdings in Seagate Technology by 133.1% during the 4th quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider’s stock worth $1,094,000 after acquiring an additional 7,240 shares during the last quarter. Norges Bank bought a new stake in Seagate Technology during the 4th quarter worth about $25,729,000. Asset Management One Co. Ltd. grew its holdings in Seagate Technology by 9.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider’s stock worth $7,360,000 after acquiring an additional 7,599 shares during the last quarter. Empowered Funds LLC grew its holdings in Seagate Technology by 460.8% during the 4th quarter. Empowered Funds LLC now owns 18,361 shares of the data storage provider’s stock worth $1,585,000 after acquiring an additional 15,087 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Seagate Technology by 207.0% during the 4th quarter. Allworth Financial LP now owns 5,774 shares of the data storage provider’s stock worth $498,000 after acquiring an additional 3,893 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on STX shares. UBS Group increased their price objective on shares of Seagate Technology from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Morgan Stanley increased their price objective on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Mizuho reduced their target price on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Thursday, April 10th. Citigroup raised their target price on shares of Seagate Technology from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Seagate Technology in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.42.

Seagate Technology Stock Performance

Shares of STX stock opened at $127.27 on Monday. The company has a market capitalization of $27.01 billion, a P/E ratio of 23.27 and a beta of 1.40. The company’s 50 day moving average price is $98.91 and its two-hundred day moving average price is $95.04. Seagate Technology Holdings plc has a 52 week low of $63.19 and a 52 week high of $132.23.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The business’s quarterly revenue was up 30.5% on a year-over-year basis. During the same period last year, the company posted $0.33 EPS. Analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 2.26%. Seagate Technology’s dividend payout ratio (DPR) is presently 41.62%.

Seagate Technology declared that its Board of Directors has authorized a share repurchase program on Thursday, May 22nd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 3,594 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $130.00, for a total transaction of $467,220.00. Following the transaction, the executive vice president now directly owns 11,064 shares in the company, valued at $1,438,320. The trade was a 24.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kian Fatt Chong sold 6,410 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $111.26, for a total transaction of $713,176.60. The disclosure for this sale can be found here. Insiders sold a total of 393,192 shares of company stock worth $46,303,128 in the last three months. Insiders own 0.81% of the company’s stock.

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.