GAMMA Investing LLC Makes New $58,000 Investment in Seagate Technology Holdings plc (NASDAQ:STX)

GAMMA Investing LLC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 677 shares of the data storage provider’s stock, valued at approximately $58,000.

Other institutional investors have also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Seagate Technology in the 4th quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Seagate Technology during the fourth quarter valued at $28,000. Parkside Financial Bank & Trust raised its position in shares of Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Seagate Technology in the 4th quarter worth about $43,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.1 %

Shares of NASDAQ:STX opened at $85.81 on Thursday. Seagate Technology Holdings plc has a 1-year low of $54.47 and a 1-year high of $101.26. The firm’s 50 day simple moving average is $89.22 and its two-hundred day simple moving average is $83.28.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm posted ($0.43) EPS. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Seagate Technology Holdings plc will post 0.3 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on STX shares. The Goldman Sachs Group increased their price target on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company raised their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. BNP Paribas cut shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a report on Thursday, January 11th. UBS Group raised their target price on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, TD Cowen lifted their target price on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.53.

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.