AdvisorNet Financial Inc Has $291,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

AdvisorNet Financial Inc increased its position in Seagate Technology Holdings plc (NASDAQ:STX) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,377 shares of the data storage provider’s stock after buying an additional 122 shares during the quarter. AdvisorNet Financial Inc’s holdings in Seagate Technology were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new position in shares of Seagate Technology during the third quarter valued at $26,000. Quarry LP acquired a new stake in Seagate Technology in the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after buying an additional 258 shares during the period. Finally, JFS Wealth Advisors LLC grew its position in shares of Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after buying an additional 293 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on STX shares. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Mizuho dropped their price target on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. The Goldman Sachs Group decreased their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company dropped their target price on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Northland Securities increased their price target on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $120.94.

Seagate Technology Trading Up 0.8 %

NASDAQ STX opened at $95.07 on Friday. The company has a fifty day simple moving average of $94.55 and a 200 day simple moving average of $100.37. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The company has a market cap of $20.11 billion, a P/E ratio of 24.82 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company earned ($0.34) earnings per share. The business’s revenue was up 49.1% on a year-over-year basis. Sell-side analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business 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 represents a $2.88 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 75.20%.

Insider Activity at Seagate Technology

In related news, Director Jay L. Geldmacher sold 4,100 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $103.30, for a total transaction of $423,530.00. Following the transaction, the director now directly owns 2,852 shares in the company, valued at approximately $294,611.60. The trade was a 58.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the sale, the chief executive officer now owns 642,497 shares of the company’s stock, valued at approximately $63,947,726.41. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,304 shares of company stock valued at $5,656,238 over the last 90 days. Insiders own 0.81% of the company’s stock.

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.