AE Wealth Management LLC Sells 1,555 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Posted by Defense World Staff on Jul 2nd, 2023

AE Wealth Management LLC reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,328 shares of the data storage provider’s stock after selling 1,555 shares during the period. AE Wealth Management LLC’s holdings in Seagate Technology were worth $3,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in STX. Sanders Capital LLC boosted its stake in shares of Seagate Technology by 89.3% in the fourth quarter. Sanders Capital LLC now owns 10,925,729 shares of the data storage provider’s stock valued at $574,803,000 after buying an additional 5,153,389 shares during the period. Norges Bank bought a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $92,189,000. State Street Corp lifted its stake in Seagate Technology by 16.3% during the third quarter. State Street Corp now owns 8,951,455 shares of the data storage provider’s stock worth $482,736,000 after purchasing an additional 1,256,349 shares during the last quarter. First Trust Advisors LP lifted its stake in Seagate Technology by 77.9% during the fourth quarter. First Trust Advisors LP now owns 891,334 shares of the data storage provider’s stock worth $46,929,000 after purchasing an additional 390,381 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Seagate Technology by 24.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,577,993 shares of the data storage provider’s stock worth $83,018,000 after purchasing an additional 311,627 shares during the last quarter. 87.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STX has been the subject of several recent analyst reports. Barclays cut their target price on Seagate Technology from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, April 21st. Susquehanna upped their target price on Seagate Technology from $32.00 to $33.00 in a research note on Wednesday, June 14th. StockNews.com upgraded Seagate Technology from a “sell” rating to a “hold” rating in a research note on Thursday. Wedbush restated a “neutral” rating and set a $55.00 target price on shares of Seagate Technology in a research note on Friday, April 14th. Finally, Credit Suisse Group cut their target price on Seagate Technology from $69.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.88.

Seagate Technology Trading Down 0.1 %

Shares of STX opened at $61.87 on Friday. The stock has a market capitalization of $12.81 billion, a P/E ratio of -73.65 and a beta of 1.09. The firm’s fifty day simple moving average is $60.36 and its two-hundred day simple moving average is $61.36. Seagate Technology Holdings plc has a 12 month low of $47.47 and a 12 month high of $83.78.

Seagate Technology (NASDAQ:STX – Free Report) last issued its quarterly earnings results on Thursday, April 20th. The data storage provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.49). The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.98 billion. Seagate Technology had a negative net margin of 1.91% and a negative return on equity of 69.08%. The business’s revenue was down 33.6% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. As a group, research analysts predict that Seagate Technology Holdings plc will post -0.37 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 4.53%. Seagate Technology’s dividend payout ratio (DPR) is currently -333.33%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP Katherine Schuelke sold 3,487 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $62.09, for a total transaction of $216,507.83. Following the sale, the senior vice president now owns 28,658 shares of the company’s stock, valued at $1,779,375.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

About Seagate Technology

(Free Report)

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.