Financial Advisors Network Inc. Sells 269 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Financial Advisors Network Inc. lessened its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,647 shares of the data storage provider’s stock after selling 269 shares during the period. Financial Advisors Network Inc.’s holdings in Seagate Technology were worth $311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Trexquant Investment LP lifted its position in Seagate Technology by 77.3% during the 4th quarter. Trexquant Investment LP now owns 36,657 shares of the data storage provider’s stock valued at $3,129,000 after acquiring an additional 15,984 shares during the period. Corient Private Wealth LLC raised its position in shares of Seagate Technology by 5.0% in the 4th quarter. Corient Private Wealth LLC now owns 21,696 shares of the data storage provider’s stock valued at $1,852,000 after purchasing an additional 1,030 shares during the last quarter. Wells Fargo & Company MN grew its stake in Seagate Technology by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock valued at $86,572,000 after acquiring an additional 460,599 shares during the period. Coldstream Capital Management Inc. purchased a new position in Seagate Technology in the 4th quarter valued at $211,000. Finally, Blankinship & Foster LLC purchased a new stake in Seagate Technology in the 4th quarter valued at about $243,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on STX shares. Benchmark restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, April 24th. Wedbush raised shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Wednesday, May 1st. Cantor Fitzgerald increased their price target on Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Mizuho reiterated a “buy” rating and set a $100.00 price objective on shares of Seagate Technology in a research note on Tuesday, April 9th. Finally, Rosenblatt Securities raised their target price on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Seagate Technology has a consensus rating of “Hold” and an average target price of $95.50.

Seagate Technology Trading Up 0.7 %

Shares of STX stock traded up $0.68 during trading hours on Thursday, reaching $95.35. 502,683 shares of the company’s stock were exchanged, compared to its average volume of 2,692,808. The company has a market cap of $20.02 billion, a price-to-earnings ratio of -74.43, a P/E/G ratio of 191.47 and a beta of 1.06. Seagate Technology Holdings plc has a fifty-two week low of $57.06 and a fifty-two week high of $101.26. The stock’s 50 day moving average is $89.41 and its 200-day moving average is $85.86.

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 firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned ($0.43) EPS. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. Equities analysts anticipate that Seagate Technology Holdings plc will post 0.4 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.94%. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insider Activity

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the transaction, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The disclosure for this sale can be found here. 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.