Kovack Advisors Inc. recently acquired a new stake in Seagate Technology Holdings plc (NASDAQ:STX), according to the company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8217;s 13F filing with the Securities and Exchange Commission. The firm purchased 3,382 shares of the data storage provider&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8217;s stock, valued at approximately $178,000. This acquisition reflects increased interest in Seagate Technology from hedge funds and institutional investors.
Among the other investors who have recently added to or reduced their stakes in the company are Nordea Investment Management AB, Los Angeles Capital Management LLC, CIBC Asset Management Inc, Sei Investments Co., and Accurate Wealth Management LLC. Combined, these hedge funds and institutional investors own 82.69% of the company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8217;s stock.
Seagate Technology&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8217;s stock price has been trading down by 2.8% and the company currently has a market capitalization of $13.28 billion. It has a P/E ratio of -76.55 and a beta of 1.09. The stock has a 50-day simple moving average of $60.67 and a 200-day simple moving average of $60.73. Its 52-week low is $47.47 and its 52-week high is $83.78.
In terms of its financial performance, Seagate Technology reported a net loss of ($0.28) per share for the last quarter, missing the consensus estimate of $0.21 per share. The company&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8217;s revenue for the quarter was $1.86 billion, compared to analyst estimates of $1.98 billion. Seagate Technology had a negative net margin of 1.91% and a negative return on equity of 69.08%. These numbers indicate a decline compared to the same quarter last year. Research analysts predict that Seagate Technology will post -0.34 EPS for the current fiscal year.
Seagate Technology recently declared a quarterly dividend, which will be paid on July 5th. Stockholders of record on June 21st will be paid a dividend of $0.70 per share. This represents an annualized dividend of $2.80 and a dividend yield of 4.35%.
In terms of insider transactions, SVP Katherine Schuelke recently sold 3,487 shares of Seagate Technology stock at an average price of $62.09, for a total value of $216,507.83. Following this transaction, Schuelke now owns 28,658 shares in the company, valued at $1,779,375.22. Currently, company insiders own 1.00% of the stock.
Several research reports have been issued on Seagate Technology. Deutsche Bank Aktiengesellschaft cut their target price on the stock from $60.00 to $55.00 and set a &https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8220;hold&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8221; rating for the company. Northland Securities also reduced their price target, from $74.00 to $70.00, while UBS Group cut theirs from $65.00 to $60.00. Credit Suisse Group cut their price objective from $69.00 to $54.00 and Susquehanna raised their price objective from $32.00 to $33.00.
Seagate Technology Holdings plc provides data storage technology and solutions worldwide. The company offers enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.
While Seagate Technology currently has a &https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8220;Hold&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8221; rating among analysts, market experts have identified five stocks that top analysts believe are better buys. MarketBeat keeps track of Wall Street&https://adarima.org/?aHR0cHM6Ly9tY3J5cHRvLmNsdWIvY2F0ZWdvcnJ5Lz93cHNhZmVsaW5rPUZkUDY5R3lDQUV3QXBic0NhZGZFZUZsZ2lIbmlrVWtaaVFVUk5iM2hoYUV4cmIydDNjazltVlcxUWR6MDk-8217;s top-rated and best-performing research analysts and the stocks they recommend to their clients on a daily basis. These stocks are generating considerable interest among investors and are worth considering.
