Leisure Capital Management Decreases Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Leisure Capital Management lessened its position in Seagate Technology Holdings plc (NASDAQ:STX) by 17.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,825 shares of the data storage provider’s stock after selling 3,230 shares during the quarter. Leisure Capital Management’s holdings in Seagate Technology were worth $1,351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in STX. CWM LLC lifted its position in Seagate Technology by 6.0% during the third quarter. CWM LLC now owns 3,311 shares of the data storage provider’s stock worth $218,000 after buying an additional 187 shares in the last quarter. IFP Advisors Inc lifted its position in Seagate Technology by 4.9% during the third quarter. IFP Advisors Inc now owns 3,542 shares of the data storage provider’s stock worth $234,000 after buying an additional 164 shares in the last quarter. SG Americas Securities LLC lifted its position in Seagate Technology by 23.2% during the third quarter. SG Americas Securities LLC now owns 21,613 shares of the data storage provider’s stock worth $1,425,000 after buying an additional 4,075 shares in the last quarter. Czech National Bank lifted its position in Seagate Technology by 47.8% during the third quarter. Czech National Bank now owns 33,711 shares of the data storage provider’s stock worth $2,223,000 after buying an additional 10,910 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Seagate Technology by 5.5% during the third quarter. Commonwealth Equity Services LLC now owns 84,804 shares of the data storage provider’s stock worth $5,593,000 after buying an additional 4,406 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analysts Set New Price Targets

STX has been the topic of a number of analyst reports. Cantor Fitzgerald lifted their price objective on Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday. Rosenblatt Securities raised their target price on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Robert W. Baird raised their target price on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Mizuho reissued a “buy” rating and set a $100.00 target price on shares of Seagate Technology in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $94.53.

Seagate Technology Trading Down 1.4 %

STX traded down $1.22 on Friday, hitting $86.04. 3,637,434 shares of the company were exchanged, compared to its average volume of 3,003,319. Seagate Technology Holdings plc has a twelve month low of $54.47 and a twelve month high of $101.26. The company has a market cap of $18.03 billion, a price-to-earnings ratio of -66.70, a price-to-earnings-growth ratio of 480.77 and a beta of 1.04. The firm has a 50-day moving average price of $89.25 and a two-hundred day moving average price of $82.81.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period last year, the firm earned ($0.43) earnings per share. Equities analysts expect that Seagate Technology Holdings plc will post 0.15 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

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.