NewSquare Capital LLC Has $5.21 Million Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

NewSquare Capital LLC boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,772 shares of the data storage provider’s stock after purchasing an additional 324 shares during the period. NewSquare Capital LLC’s holdings in Seagate Technology were worth $5,206,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Seagate Technology during the fourth quarter valued at about $26,000. CVA Family Office LLC bought a new position in Seagate Technology during the fourth quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Seagate Technology during the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust raised its holdings in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after buying an additional 205 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Seagate Technology during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on STX. Rosenblatt Securities lifted their price objective on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Wedbush reiterated a “neutral” rating and issued a $100.00 price objective on shares of Seagate Technology in a research note on Thursday, January 25th. Evercore ISI began coverage on Seagate Technology in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price objective on the stock. Robert W. Baird lifted their price objective 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, Barclays dropped their price objective on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and an average price target of $91.73.

Seagate Technology Stock Performance

NASDAQ STX traded up $1.35 during trading on Tuesday, reaching $86.53. 5,991,876 shares of the company traded hands, compared to its average volume of 2,798,703. The stock’s 50 day moving average price is $89.31 and its two-hundred day moving average price is $82.47. The company has a market cap of $18.13 billion, a price-to-earnings ratio of -24.34, a P/E/G ratio of 681.49 and a beta of 1.04. Seagate Technology Holdings plc has a 1-year low of $54.47 and a 1-year high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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 company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) earnings per share. Equities research analysts expect that Seagate Technology Holdings plc will post 0.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently disclosed 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 3.24%. Seagate Technology’s payout ratio is -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.