GoalVest Advisory LLC Increases Position in Seagate Technology Holdings PLC $STX

GoalVest Advisory LLC raised its position in Seagate Technology Holdings PLC (NASDAQ:STX) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 320 shares of the data storage provider’s stock after purchasing an additional 75 shares during the period. GoalVest Advisory LLC’s holdings in Seagate Technology were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Personal CFO Solutions LLC purchased a new stake in shares of Seagate Technology in the 1st quarter valued at approximately $223,000. Amalgamated Bank boosted its holdings in shares of Seagate Technology by 0.8% in the 1st quarter. Amalgamated Bank now owns 29,964 shares of the data storage provider’s stock valued at $2,545,000 after buying an additional 243 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Seagate Technology by 18.0% in the 2nd quarter. Nordea Investment Management AB now owns 18,422 shares of the data storage provider’s stock valued at $2,632,000 after buying an additional 2,808 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Seagate Technology in the 1st quarter valued at $272,000. Finally, Alps Advisors Inc. boosted its holdings in shares of Seagate Technology by 10.2% in the 1st quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider’s stock valued at $23,687,000 after buying an additional 25,817 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STX. Wedbush upped their target price on shares of Seagate Technology from $175.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Benchmark upped their target price on shares of Seagate Technology from $165.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Evercore ISI upped their target price on shares of Seagate Technology from $160.00 to $330.00 and gave the company an “outperform” rating in a report on Monday, October 13th. Sanford C. Bernstein upped their target price on shares of Seagate Technology from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, Barclays upped their price target on shares of Seagate Technology from $180.00 to $200.00 and gave the company an “equal weight” rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $234.65.

Seagate Technology Price Performance

STX stock opened at $230.32 on Tuesday. The company has a fifty day moving average price of $206.12 and a 200 day moving average price of $152.38. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $264.83. The company has a market cap of $49.05 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.63.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, July 29th. The data storage provider reported $2.59 EPS for the quarter, beating the consensus estimate of $2.45 by $0.14. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. Seagate Technology had a net margin of 16.15% and a negative return on equity of 169.60%. Seagate Technology’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. As a group, analysts anticipate that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $249.90, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief executive officer owned 485,668 shares in the company, valued at approximately $121,368,433.20. This represents a 3.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Christopher Morris sold 15,347 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $195.80, for a total transaction of $3,004,942.60. Following the transaction, the executive vice president owned 9,843 shares of the company’s stock, valued at approximately $1,927,259.40. The trade was a 60.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,620 shares of company stock worth $14,464,056 in the last 90 days. Corporate insiders own 0.79% 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.