Hennion & Walsh Asset Management Inc. Raises Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Hennion & Walsh Asset Management Inc. lifted its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 40.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,708 shares of the data storage provider’s stock after purchasing an additional 3,386 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Seagate Technology were worth $1,089,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in Seagate Technology by 68.8% in the fourth quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock worth $12,212,000 after buying an additional 58,300 shares during the period. JPMorgan Chase & Co. grew its stake in Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after purchasing an additional 1,485,937 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Seagate Technology by 8.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after purchasing an additional 561 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in Seagate Technology during the fourth quarter valued at $230,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Seagate Technology by 1.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock valued at $11,620,000 after buying an additional 1,419 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Barclays lowered their price target on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Susquehanna upped their price target on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research note on Wednesday, April 10th. The Goldman Sachs Group raised their price objective on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Mizuho boosted their target price on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Cantor Fitzgerald raised their price target on Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.29.

Insider Activity at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares in the company, valued at $1,599,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,531 shares of company stock worth $3,592,946. 0.89% of the stock is owned by company insiders.

Seagate Technology Stock Down 0.8 %

NASDAQ:STX opened at $103.27 on Monday. The company has a 50 day simple moving average of $95.41 and a two-hundred day simple moving average of $90.25. Seagate Technology Holdings plc has a 12 month low of $57.32 and a 12 month high of $107.91.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned ($0.43) EPS. The business’s revenue was down 11.0% on a year-over-year basis. As a group, equities analysts forecast that Seagate Technology Holdings plc will post 0.44 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s payout ratio is -217.05%.

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.