Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its position in Seagate Technology Holdings plc (NASDAQ:STX) by 26.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,132 shares of the data storage provider’s stock after acquiring an additional 4,460 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Seagate Technology were worth $1,824,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its position in Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after acquiring an additional 89 shares during the period. Affinity Capital Advisors LLC lifted its holdings in Seagate Technology by 1.5% in the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after purchasing an additional 100 shares during the period. AdvisorNet Financial Inc grew its position in Seagate Technology by 3.7% in the 4th quarter. AdvisorNet Financial Inc now owns 3,377 shares of the data storage provider’s stock valued at $291,000 after buying an additional 122 shares in the last quarter. Ballentine Partners LLC increased its stake in Seagate Technology by 3.6% during the 3rd quarter. Ballentine Partners LLC now owns 3,671 shares of the data storage provider’s stock valued at $402,000 after buying an additional 129 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Seagate Technology by 0.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 28,646 shares of the data storage provider’s stock worth $2,958,000 after buying an additional 183 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STX. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Mizuho lowered their price target on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Rosenblatt Securities boosted their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $120.94.

Seagate Technology Stock Performance

Seagate Technology stock opened at $97.67 on Friday. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of 25.50 and a beta of 1.06. The company has a 50 day moving average price of $94.40 and a 200 day moving average price of $100.33.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) earnings per share. Equities analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were issued a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.95%. Seagate Technology’s dividend payout ratio is currently 75.20%.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the completion of the transaction, the chief executive officer now owns 642,497 shares in the company, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,304 shares of company stock valued at $5,656,238 over the last three months. 0.81% of the stock is owned by corporate insiders.

About Seagate Technology

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.