Beacon Pointe Advisors LLC Decreases Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Beacon Pointe Advisors LLC decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,617 shares of the data storage provider’s stock after selling 197 shares during the period. Beacon Pointe Advisors LLC’s holdings in Seagate Technology were worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in Seagate Technology by 14.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,345 shares of the data storage provider’s stock valued at $200,000 after acquiring an additional 304 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in shares of Seagate Technology by 8.1% in the fourth quarter. Legacy Capital Group California Inc. now owns 10,848 shares of the data storage provider’s stock worth $926,000 after buying an additional 812 shares during the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Seagate Technology in the fourth quarter worth $44,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Seagate Technology in the fourth quarter worth $230,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Seagate Technology by 14.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 21,137 shares of the data storage provider’s stock worth $1,804,000 after buying an additional 2,746 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX stock opened at $94.67 on Thursday. The firm has a market cap of $19.88 billion, a PE ratio of -73.39, a P/E/G ratio of 191.47 and a beta of 1.06. The firm’s fifty day moving average is $89.41 and its 200 day moving average is $85.86. Seagate Technology Holdings plc has a one year low of $57.06 and a one year high of $101.26.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating 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. During the same quarter last year, the business earned ($0.43) EPS. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. Research analysts predict that Seagate Technology Holdings plc will post 0.4 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.96%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Insider Activity

In other news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the transaction, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STX. Citigroup began coverage on shares of Seagate Technology in a report on Tuesday, May 14th. They issued a “buy” rating and a $110.00 price target for the company. TD Cowen raised their price target on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Wedbush raised shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Wednesday, May 1st. Robert W. Baird raised their price target on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.50.

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.