NewSquare Capital LLC Grows Position in Seagate Technology Holdings plc (NASDAQ:STX)

NewSquare Capital LLC increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,772 shares of the data storage provider’s stock after buying an additional 324 shares during the quarter. NewSquare Capital LLC’s holdings in Seagate Technology were worth $5,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in shares of Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after purchasing an additional 1,485,937 shares during the last quarter. FMR LLC grew its stake in shares of Seagate Technology by 13.1% in the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after purchasing an additional 1,612,264 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Seagate Technology by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock valued at $288,960,000 after purchasing an additional 127,214 shares during the last quarter. Invesco Ltd. grew its stake in shares of Seagate Technology by 0.4% in the 3rd quarter. Invesco Ltd. now owns 2,804,277 shares of the data storage provider’s stock valued at $184,942,000 after purchasing an additional 10,697 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Seagate Technology by 24.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock valued at $158,950,000 after purchasing an additional 470,592 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on STX shares. Rosenblatt Securities raised their price target on Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, January 25th. BNP Paribas cut Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target for the company. in a report on Thursday, January 11th. Wedbush reissued a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a report on Thursday, January 25th. TD Cowen raised their price target on Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group lifted their price objective on Seagate Technology from $65.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.73.

Seagate Technology Trading Up 1.6 %

Shares of NASDAQ STX traded up $1.35 during trading on Tuesday, reaching $86.53. The company had a trading volume of 5,991,876 shares, compared to its average volume of 2,798,703. The stock has a market capitalization of $18.13 billion, a PE ratio of -24.34, a price-to-earnings-growth ratio of 681.49 and a beta of 1.04. Seagate Technology Holdings plc has a twelve month low of $54.47 and a twelve month high of $101.26. The stock has a 50-day moving average price of $89.31 and a two-hundred day moving average price of $82.47.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.43) EPS. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 0.1 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. Seagate Technology’s dividend payout ratio is currently -80.00%.

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.