Rothschild Investment LLC Invests $1 Million in Seagate Technology Holdings plc (NASDAQ:STX)

Rothschild Investment LLC acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,710 shares of the data storage provider’s stock, valued at approximately $1,003,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Northwest Financial Advisors bought a new position in shares of Seagate Technology during the 4th quarter valued at $31,000. Family Firm Inc. purchased a new stake in Seagate Technology during the second quarter valued at $41,000. CarsonAllaria Wealth Management Ltd. bought a new position in Seagate Technology in the fourth quarter valued at about $44,000. ICA Group Wealth Management LLC purchased a new position in Seagate Technology in the fourth quarter worth about $47,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $47,000. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on STX shares. Morgan Stanley increased their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald increased their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Bank of America reissued a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a research report on Wednesday, June 5th. Mizuho upped their price objective on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, TD Cowen lifted their target price on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Hold” and a consensus price target of $115.94.

Insider Activity at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now owns 5,042 shares of the company’s stock, valued at $504,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the transaction, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,547 shares of company stock worth $7,084,361. Insiders own 0.89% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $99.55 on Friday. Seagate Technology Holdings plc has a 1-year low of $62.43 and a 1-year high of $113.57. The business’s 50 day moving average is $101.89 and its two-hundred day moving average is $95.39. The stock has a market capitalization of $20.93 billion, a P/E ratio of -77.17 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last released its 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 firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.29) EPS. As a group, equities research analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.81%. Seagate Technology’s dividend payout ratio (DPR) is presently -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.