Prime Capital Investment Advisors LLC lifted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating ) by 337.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 57,784 shares of the data storage provider’s stock after purchasing an additional 44,589 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Seagate Technology were worth $3,040,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of STX. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Seagate Technology by 20.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 43,530 shares of the data storage provider’s stock valued at $2,290,000 after acquiring an additional 7,528 shares during the period. California Public Employees Retirement System boosted its position in Seagate Technology by 3.2% in the fourth quarter. California Public Employees Retirement System now owns 445,790 shares of the data storage provider’s stock valued at $23,453,000 after acquiring an additional 13,690 shares during the period. Nordea Investment Management AB boosted its stake in Seagate Technology by 1.0% in the fourth quarter. Nordea Investment Management AB now owns 217,578 shares of the data storage provider’s stock valued at $11,432,000 after acquiring an additional 2,211 shares during the last quarter. Desjardins Global Asset Management Inc. raised its holdings in shares of Seagate Technology by 9.9% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 3,969 shares of the data storage provider’s stock valued at $208,000 after purchasing an additional 359 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Seagate Technology by 16.5% during the 4th quarter. Russell Investments Group Ltd. now owns 394,717 shares of the data storage provider’s stock valued at $20,767,000 after buying an additional 55,773 shares during the last quarter. Institutional investors and hedge funds own 82.69% of the company’s shares.
Introducing Seagate Technology stock
STX opened at $55.94 on Monday. Seagate Technology Holdings plc has a 52-week low of $47.47 and a 52-week high of $88.25. The stock has a market cap of $11.55 billion, a P/E ratio of -66.60 and a beta of 1.09. The company’s 50-day simple moving average is $61.82, and its two-hundred-day simple moving average is $59.22.
Seagate Technology (NASDAQ:STX – Get Rating) last posted its earnings results on Thursday, April 20th. The data storage provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.49). The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 1.91%. The company’s revenue was down 33.6% compared to the same quarter last year. In the same period last year, the company reported earnings of $1.65 per share. analysts forecast that Seagate Technology Holdings plc will post -0.09 EPS for the current fiscal year.
Seagate Technology Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be given a $0.70 dividend. The ex-dividend date is Tuesday, June 20th. This represents an annualized dividend of $2.80 and a yield of 5.01%. Seagate Technology’s dividend payout ratio is currently -333.33%.
Wall Street analysts forecast growth
Several equities analysts recently issued reports on STX shares. TD Cowen reduced their price objective on Seagate Technology from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st. StockNews.com lowered shares of Seagate Technology from a “hold” rating to a “sell” rating in a research report on Friday, April 21st. Credit Suisse Group decreased their price objective on shares of Seagate Technology from $69.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 21st. Loop Capital boosted their price objective on shares of Seagate Technology from $70.00 to $80.00 in a research note on Thursday, January 26th. Finally, Evercore ISI reduced their target price on shares of Seagate Technology from $70.00 to $65.00 and set an “hold” rating for the company in a research note on Friday, April 21st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $65.76, according to MarketBeat.com.
Seagate Technology Profile
Seagate Technology Holdings Plc operates as a holding company engaged in the development, manufacture and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid-state hybrid drives, solid-state drives, express peripheral connectivity cards, advanced technology serial connectivity controllers, storage subsystems and computing solutions.
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