Clearstead Trust LLC Boosts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Clearstead Trust LLC increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,078 shares of the data storage provider’s stock after buying an additional 2,152 shares during the period. Clearstead Trust LLC’s holdings in Seagate Technology were worth $2,312,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Seagate Technology in the fourth quarter worth about $26,000. CVA Family Office LLC purchased a new position in Seagate Technology during the fourth quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in Seagate Technology during the fourth quarter valued at approximately $28,000. Parkside Financial Bank & Trust grew its stake in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 205 shares in the last quarter. Finally, Valley National Advisers Inc. grew its stake in Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 1.4 %

Shares of STX traded up $1.21 during mid-day trading on Friday, reaching $87.50. The company’s stock had a trading volume of 1,655,351 shares, compared to its average volume of 3,027,261. The stock has a market cap of $18.37 billion, a PE ratio of -67.83, a P/E/G ratio of 239.31 and a beta of 1.06. Seagate Technology Holdings plc has a 52 week low of $54.47 and a 52 week high of $101.26. The company’s fifty day moving average price is $89.18 and its two-hundred day moving average price is $83.43.

Seagate Technology (NASDAQ:STX) last announced 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 the consensus estimate of $1.68 billion. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. The company’s revenue was down 11.0% compared to the same quarter last year. Research analysts anticipate that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors 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 dividend on an annualized basis and a yield of 3.20%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Cantor Fitzgerald boosted their price objective on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Rosenblatt Securities boosted their price objective 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. TD Cowen boosted their price objective on shares of Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Susquehanna lifted their target price on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $94.53.

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.