Nicholas Hoffman & Company LLC. Buys 582 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Nicholas Hoffman & Company LLC. lifted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 18.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,708 shares of the data storage provider’s stock after acquiring an additional 582 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Seagate Technology were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of STX. Aigen Investment Management LP purchased a new position in shares of Seagate Technology in the 2nd quarter worth approximately $3,693,000. Intersect Capital LLC increased its holdings in shares of Seagate Technology by 5.3% in the second quarter. Intersect Capital LLC now owns 12,961 shares of the data storage provider’s stock worth $1,140,000 after purchasing an additional 657 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Seagate Technology by 16.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 68,059 shares of the data storage provider’s stock worth $5,984,000 after purchasing an additional 9,400 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Seagate Technology by 44.5% in the second quarter. Rockefeller Capital Management L.P. now owns 33,167 shares of the data storage provider’s stock worth $2,916,000 after purchasing an additional 10,219 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in shares of Seagate Technology by 6.4% in the second quarter. Rafferty Asset Management LLC now owns 31,025 shares of the data storage provider’s stock worth $2,728,000 after purchasing an additional 1,875 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:STX opened at $82.73 on Wednesday. The company’s 50-day simple moving average is $87.83 and its 200-day simple moving average is $86.66. The stock has a market capitalization of $18.83 billion, a P/E ratio of 15.21, a P/E/G ratio of 9.09 and a beta of 1.08. The company has a debt-to-equity ratio of 7.76, a quick ratio of 0.88 and a current ratio of 1.29. Seagate Technology Holdings plc has a fifty-two week low of $46.89 and a fifty-two week high of $106.22.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 20th. The data storage provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.26. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Seagate Technology had a net margin of 12.30% and a return on equity of 130.74%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. On average, research analysts forecast that Seagate Technology Holdings plc will post 7.63 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 6th. Investors of record on Wednesday, September 22nd will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.24%. The ex-dividend date is Tuesday, September 21st. Seagate Technology’s payout ratio is presently 50.85%.

In other news, EVP Ban Seng Teh sold 2,340 shares of the business’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $87.23, for a total transaction of $204,118.20. Following the transaction, the executive vice president now owns 8,710 shares of the company’s stock, valued at approximately $759,773.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.81% of the stock is owned by corporate insiders.

Several research firms have issued reports on STX. Barclays upgraded shares of Seagate Technology from an “underweight” rating to an “equal weight” rating and set a $85.00 price target for the company in a research report on Wednesday, June 30th. Northland Securities upped their price objective on shares of Seagate Technology from $98.00 to $106.00 and gave the company an “outperform” rating in a research note on Thursday, July 22nd. Benchmark decreased their price target on shares of Seagate Technology from $112.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, July 22nd. Susquehanna decreased their target price on shares of Seagate Technology from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, July 22nd. Finally, UBS Group raised shares of Seagate Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $83.00 to $105.00 in a research note on Monday, August 16th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.39.

About Seagate Technology

Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.

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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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