Raymond James Financial Services Advisors Inc. Increases Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Raymond James Financial Services Advisors Inc. grew its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 68.1% in the first quarter, Holdings Channel.com reports. The firm owned 137,213 shares of the data storage provider’s stock after buying an additional 55,586 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Seagate Technology were worth $12,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in Seagate Technology by 5.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 84,804 shares of the data storage provider’s stock valued at $5,593,000 after buying an additional 4,406 shares in the last quarter. Raymond James & Associates grew its stake in Seagate Technology by 18.5% during the third quarter. Raymond James & Associates now owns 319,399 shares of the data storage provider’s stock valued at $21,064,000 after acquiring an additional 49,823 shares in the last quarter. Beacon Financial Advisory LLC increased its holdings in Seagate Technology by 3.6% during the 3rd quarter. Beacon Financial Advisory LLC now owns 11,555 shares of the data storage provider’s stock worth $762,000 after acquiring an additional 405 shares during the period. Mackenzie Financial Corp lifted its stake in Seagate Technology by 2.5% in the 3rd quarter. Mackenzie Financial Corp now owns 17,668 shares of the data storage provider’s stock worth $1,156,000 after purchasing an additional 427 shares in the last quarter. Finally, Brighton Jones LLC boosted its holdings in Seagate Technology by 5.0% in the 3rd quarter. Brighton Jones LLC now owns 18,604 shares of the data storage provider’s stock valued at $1,227,000 after purchasing an additional 882 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX stock traded up $1.21 during trading on Friday, hitting $87.50. 1,655,351 shares of the company traded hands, compared to its average volume of 3,027,261. Seagate Technology Holdings plc has a 1 year low of $54.47 and a 1 year high of $101.26. The firm has a market capitalization of $18.37 billion, a PE ratio of -67.83, a P/E/G ratio of 239.31 and a beta of 1.06. The company has a 50-day moving average of $89.18 and a 200-day moving average of $83.53.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) earnings per share. Sell-side analysts expect that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be paid 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 3.20%. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Analyst Upgrades and Downgrades

STX has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. TD Cowen upped their price objective on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. BNP Paribas cut shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target for the company. in a research note on Thursday, January 11th. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. Finally, Cantor Fitzgerald upped their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and an average 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.