Quadrant Capital Group LLC boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 37.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,445 shares of the data storage provider’s stock after buying an additional 392 shares during the period. Quadrant Capital Group LLC’s holdings in Seagate Technology were worth $76,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corrado Advisors LLC purchased a new stake in Seagate Technology during the 4th quarter valued at $26,000. CI Investments Inc. raised its holdings in Seagate Technology by 102.2% during the fourth quarter. CI Investments Inc. now owns 540 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 273 shares during the period. CENTRAL TRUST Co raised its holdings in Seagate Technology by 50.0% during the third quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider’s stock valued at $48,000 after acquiring an additional 300 shares during the period. CoreCap Advisors LLC bought a new stake in shares of Seagate Technology in the fourth quarter worth about $51,000. Finally, Private Trust Co. NA bought a new stake in shares of Seagate Technology in the fourth quarter worth about $55,000. Institutional investors own 82.69% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on STX shares. Susquehanna reduced their target price on Seagate Technology from $35.00 to $32.00 and set a “negative” rating on the stock in a report on Friday, April 21st. Evercore ISI reduced their target price on Seagate Technology from $70.00 to $65.00 and set an “inline” rating on the stock in a report on Friday, April 21st. Rosenblatt Securities reduced their target price on Seagate Technology from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, April 21st. Credit Suisse Group reduced their target price on Seagate Technology from $69.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 21st. Finally, Bank of America lifted their target price on Seagate Technology from $65.00 to $71.00 in a report on Tuesday, May 23rd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $66.00.
Seagate Technology Stock Performance
Seagate Technology (NASDAQ:STX – Get Rating) last announced its quarterly earnings results on Thursday, April 20th. The data storage provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 1.91% and a negative return on equity of 69.08%. The firm’s revenue for the quarter was down 33.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 EPS. Analysts forecast that Seagate Technology Holdings plc will post -0.34 earnings per share for the current year.
Seagate Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Tuesday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is -333.33%.
Insider Buying and Selling
In other news, SVP Katherine Schuelke sold 3,487 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $62.09, for a total transaction of $216,507.83. Following the transaction, the senior vice president now directly owns 28,658 shares of the company’s stock, valued at $1,779,375.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.
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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