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

Carret Asset Management LLC acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,712 shares of the data storage provider’s stock, valued at approximately $231,000.

Several other large investors also recently bought and sold shares of STX. CWM LLC grew its position in Seagate Technology by 6.0% in the third quarter. CWM LLC now owns 3,311 shares of the data storage provider’s stock worth $218,000 after acquiring an additional 187 shares during the period. IFP Advisors Inc grew its holdings in shares of Seagate Technology by 4.9% during the third quarter. IFP Advisors Inc now owns 3,542 shares of the data storage provider’s stock worth $234,000 after buying an additional 164 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Seagate Technology by 23.4% during the third quarter. Global Retirement Partners LLC now owns 2,212 shares of the data storage provider’s stock worth $146,000 after buying an additional 419 shares during the last quarter. SG Americas Securities LLC lifted its position in Seagate Technology by 23.2% in the third quarter. SG Americas Securities LLC now owns 21,613 shares of the data storage provider’s stock valued at $1,425,000 after purchasing an additional 4,075 shares during the period. Finally, Czech National Bank lifted its position in Seagate Technology by 47.8% in the third quarter. Czech National Bank now owns 33,711 shares of the data storage provider’s stock valued at $2,223,000 after purchasing an additional 10,910 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

Shares of Seagate Technology stock traded down $0.06 during midday trading on Thursday, reaching $87.05. 895,389 shares of the company’s stock traded hands, compared to its average volume of 2,830,624. The company has a market cap of $18.24 billion, a price-to-earnings ratio of -67.53, a price-to-earnings-growth ratio of 715.12 and a beta of 1.04. The company’s 50 day simple moving average is $89.30 and its 200 day simple moving average is $82.64. Seagate Technology Holdings plc has a 52 week low of $54.47 and a 52 week high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.43) EPS. As a group, equities research analysts predict that Seagate Technology Holdings plc will post 0.1 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.22%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Analysts Set New Price Targets

Several research analysts recently issued reports on STX shares. Robert W. Baird lifted their price objective on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Susquehanna upped their price target on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Wedbush reiterated a “neutral” rating and issued a $100.00 price objective on shares of Seagate Technology in a report on Wednesday. Rosenblatt Securities upped their target price on shares of Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.