Cerro Pacific Wealth Advisors LLC Has $993,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

Cerro Pacific Wealth Advisors LLC lowered its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,502 shares of the data storage provider’s stock after selling 259 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Seagate Technology were worth $993,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Seagate Technology in the third quarter valued at $26,000. Quarry LP bought a new position in Seagate Technology during the second quarter worth about $27,000. Advisors Asset Management Inc. lifted its holdings in shares of Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after buying an additional 293 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Seagate Technology in the third quarter valued at $53,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on STX. Evercore ISI lifted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 target price on shares of Seagate Technology in a report on Wednesday. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday. Bank of America raised their price target on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Mizuho cut their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Price Performance

Shares of STX stock opened at $108.42 on Friday. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32. The company has a market capitalization of $22.93 billion, a P/E ratio of 19.82 and a beta of 1.06. The company’s 50-day simple moving average is $94.55 and its two-hundred day simple moving average is $100.33.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The company’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) earnings per share. On average, research analysts expect that Seagate Technology Holdings plc will post 6.92 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.66%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the sale, the chief executive officer now owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,073 shares of company stock worth $5,106,149. Insiders own 0.81% 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.