Cetera Investment Advisers Has $4.75 Million Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Cetera Investment Advisers lifted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,069 shares of the data storage provider’s stock after purchasing an additional 2,038 shares during the quarter. Cetera Investment Advisers’ holdings in Seagate Technology were worth $4,753,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Centiva Capital LP bought a new stake in Seagate Technology during the fourth quarter worth approximately $566,000. Bayesian Capital Management LP boosted its position in Seagate Technology by 84.8% during the fourth quarter. Bayesian Capital Management LP now owns 25,693 shares of the data storage provider’s stock worth $2,218,000 after purchasing an additional 11,789 shares during the period. AXA S.A. boosted its position in Seagate Technology by 465.4% during the fourth quarter. AXA S.A. now owns 19,150 shares of the data storage provider’s stock worth $1,653,000 after purchasing an additional 15,763 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in Seagate Technology by 2,668.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 108,242 shares of the data storage provider’s stock worth $9,342,000 after purchasing an additional 104,332 shares during the period. Finally, AQR Capital Management LLC boosted its position in Seagate Technology by 10.3% during the fourth quarter. AQR Capital Management LLC now owns 675,743 shares of the data storage provider’s stock worth $58,323,000 after purchasing an additional 63,142 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on STX. Citigroup decreased their target price on Seagate Technology from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their target price on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. UBS Group increased their price objective on Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Susquehanna increased their price objective on Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a research report on Wednesday, January 22nd. Finally, Bank of America reduced their price objective on Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.89.

Seagate Technology Trading Down 0.3%

Shares of NASDAQ STX opened at $105.19 on Thursday. The business has a fifty day simple moving average of $83.73 and a 200 day simple moving average of $92.37. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 19.23 and a beta of 1.32. Seagate Technology Holdings plc has a one year low of $63.19 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 30.5% compared to the same quarter last year. On average, research analysts anticipate that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 2.74%. Seagate Technology’s dividend payout ratio is currently 41.62%.

About Seagate Technology

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.