Financial Advisors Network Inc. Cuts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Financial Advisors Network Inc. lessened its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,647 shares of the data storage provider’s stock after selling 269 shares during the period. Financial Advisors Network Inc.’s holdings in Seagate Technology were worth $311,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Trexquant Investment LP raised its stake in Seagate Technology by 77.3% during the fourth quarter. Trexquant Investment LP now owns 36,657 shares of the data storage provider’s stock worth $3,129,000 after acquiring an additional 15,984 shares during the period. Corient Private Wealth LLC grew its stake in shares of Seagate Technology by 5.0% in the 4th quarter. Corient Private Wealth LLC now owns 21,696 shares of the data storage provider’s stock valued at $1,852,000 after buying an additional 1,030 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Seagate Technology by 83.2% during the fourth quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock worth $86,572,000 after buying an additional 460,599 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in Seagate Technology during the fourth quarter worth $211,000. Finally, Blankinship & Foster LLC bought a new stake in shares of Seagate Technology during the fourth quarter worth $243,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wedbush raised Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Wednesday, May 1st. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Mizuho reissued a “buy” rating and set a $100.00 price target on shares of Seagate Technology in a report on Tuesday, April 9th. Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $73.00 to $115.00 in a research report on Tuesday, March 26th. Finally, Robert W. Baird upped their price target on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.50.

Insiders Place Their Bets

In other news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, 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 accessible through the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of 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. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Stock Up 0.7 %

Shares of NASDAQ STX traded up $0.68 during midday trading on Thursday, hitting $95.35. The company had a trading volume of 502,683 shares, compared to its average volume of 2,692,808. Seagate Technology Holdings plc has a twelve month low of $57.06 and a twelve month high of $101.26. The business has a 50-day simple moving average of $89.41 and a two-hundred day simple moving average of $85.86. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of -74.43, a price-to-earnings-growth ratio of 191.47 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. Seagate Technology’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, equities analysts forecast that Seagate Technology Holdings plc will post 0.4 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

Seagate Technology Company 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.