AdvisorNet Financial Inc Purchases 400 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

AdvisorNet Financial Inc lifted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 31.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,681 shares of the data storage provider’s stock after purchasing an additional 400 shares during the period. AdvisorNet Financial Inc’s holdings in Seagate Technology were worth $174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC boosted its stake in Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after purchasing an additional 97 shares during the period. Csenge Advisory Group grew its stake in shares of Seagate Technology by 1.4% in the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock valued at $788,000 after acquiring an additional 119 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in Seagate Technology by 3.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after acquiring an additional 122 shares during the period. Burney Co. raised its stake in Seagate Technology by 3.3% in the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock worth $367,000 after purchasing an additional 125 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Seagate Technology by 1.5% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 8,446 shares of the data storage provider’s stock valued at $786,000 after purchasing an additional 126 shares during the period. 92.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on STX. TD Cowen lifted their price objective on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wedbush raised their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. The Goldman Sachs Group increased their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald boosted their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $115.94.

Seagate Technology Stock Up 2.6 %

Seagate Technology stock traded up $2.57 during midday trading on Thursday, reaching $99.63. The stock had a trading volume of 1,548,391 shares, compared to its average volume of 2,636,668. Seagate Technology Holdings plc has a 12 month low of $62.43 and a 12 month high of $113.57. The firm has a market capitalization of $20.94 billion, a PE ratio of -76.00 and a beta of 1.02. The firm’s 50-day moving average price is $102.01 and its 200 day moving average price is $94.17.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.29) earnings per share. Equities research analysts expect that Seagate Technology Holdings plc will post 6.21 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.81%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Insider Buying and Selling

In other Seagate Technology news, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the transaction, the chief financial officer now directly owns 52,620 shares in the company, valued at approximately $4,974,694.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Gianluca Romano sold 25,760 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $94.54, for a total value of $2,435,350.40. Following the completion of the transaction, the chief financial officer now directly owns 52,620 shares in the company, valued at $4,974,694.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the sale, the senior vice president now owns 12,185 shares in the company, valued at approximately $1,218,378.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,547 shares of company stock valued at $7,084,361. Company insiders own 0.89% 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.