Carret Asset Management LLC Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Carret Asset Management LLC acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,712 shares of the data storage provider’s stock, valued at approximately $231,000.

A number of other large investors have also recently made changes to their positions in STX. JPMorgan Chase & Co. lifted its position in shares of Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after purchasing an additional 1,485,937 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after purchasing an additional 561 shares in the last quarter. Gotham Asset Management LLC raised its position in Seagate Technology by 51.1% in the third quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock worth $5,717,000 after acquiring an additional 29,323 shares during the period. SG Americas Securities LLC raised its position in Seagate Technology by 78.4% in the fourth quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock worth $3,292,000 after acquiring an additional 16,950 shares during the period. Finally, Nordea Investment Management AB raised its position in Seagate Technology by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 13,293 shares of the data storage provider’s stock worth $1,144,000 after acquiring an additional 630 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Down 0.1 %

Shares of STX traded down $0.06 during trading hours on Thursday, reaching $87.05. 895,389 shares of the company traded hands, compared to its average volume of 2,830,624. The firm has a market cap of $18.24 billion, a price-to-earnings ratio of -67.53, a PEG ratio of 715.12 and a beta of 1.04. Seagate Technology Holdings plc has a 12-month low of $54.47 and a 12-month high of $101.26. The stock’s fifty day moving average price is $89.30 and its 200 day moving average price is $82.64.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. The firm’s revenue was down 11.0% compared to the same quarter last year. During the same period last year, the company earned ($0.43) earnings per share. On average, research analysts forecast that Seagate Technology Holdings plc will post 0.1 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.22%. Seagate Technology’s dividend payout ratio (DPR) is currently -217.05%.

Analysts Set New Price Targets

STX has been the topic of several research reports. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Cantor Fitzgerald lifted their price objective on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays lowered their price objective on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, BNP Paribas downgraded shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology currently has an average rating of “Hold” and a consensus price target of $94.53.

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.