Raymond James & Associates lowered its position in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 269,576 shares of the data storage provider’s stock after selling 22,260 shares during the period. Raymond James & Associates owned about 0.13% of Seagate Technology worth $16,679,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Richard W. Paul & Associates LLC grew its stake in shares of Seagate Technology by 5.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 10,676 shares of the data storage provider’s stock worth $661,000 after purchasing an additional 566 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Seagate Technology by 3.3% during the second quarter. Assenagon Asset Management S.A. now owns 9,044 shares of the data storage provider’s stock worth $560,000 after buying an additional 289 shares in the last quarter. UMB Bank n.a. grew its position in Seagate Technology by 17.9% during the second quarter. UMB Bank n.a. now owns 1,643 shares of the data storage provider’s stock worth $102,000 after buying an additional 249 shares during the period. Vontobel Holding Ltd. increased its holdings in Seagate Technology by 109.8% in the second quarter. Vontobel Holding Ltd. now owns 16,706 shares of the data storage provider’s stock valued at $1,039,000 after buying an additional 8,744 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its position in shares of Seagate Technology by 2.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 41,159 shares of the data storage provider’s stock valued at $2,546,000 after acquiring an additional 904 shares during the period. Hedge funds and other institutional investors own 85.26% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently weighed in on STX. Summit Insights cut Seagate Technology from a “buy” rating to a “sell” rating in a report on Thursday, July 27th. Evercore ISI dropped their price target on Seagate Technology from $75.00 to $70.00 in a research report on Thursday, October 5th. Barclays cut shares of Seagate Technology from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective on the stock. in a research note on Thursday, September 7th. Rosenblatt Securities dropped their target price on shares of Seagate Technology from $70.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, July 27th. Finally, Susquehanna upped their price target on shares of Seagate Technology from $33.00 to $40.00 in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.56.
Seagate Technology Price Performance
Shares of STX stock opened at $68.43 on Monday. Seagate Technology Holdings plc has a 1-year low of $47.47 and a 1-year high of $74.51. The firm’s 50-day simple moving average is $66.37 and its 200-day simple moving average is $63.17. The firm has a market cap of $14.22 billion, a P/E ratio of -26.84 and a beta of 1.08.
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The data storage provider reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. Seagate Technology had a negative net margin of 7.16% and a negative return on equity of 69.08%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm posted $1.41 earnings per share. Seagate Technology’s revenue was down 39.0% on a year-over-year basis. Analysts expect that Seagate Technology Holdings plc will post -0.3 earnings per share for the current fiscal year.
Seagate Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, September 25th. This represents a $2.80 annualized dividend and a yield of 4.09%. Seagate Technology’s dividend payout ratio is presently -109.80%.
Insider Transactions at Seagate Technology
In other news, SVP Katherine Schuelke sold 7,832 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $63.10, for a total transaction of $494,199.20. Following the completion of the sale, the senior vice president now owns 28,812 shares in the company, valued at approximately $1,818,037.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Katherine Schuelke sold 7,832 shares of Seagate Technology stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $63.10, for a total transaction of $494,199.20. Following the transaction, the senior vice president now owns 28,812 shares in the company, valued at approximately $1,818,037.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 200,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $70.28, for a total value of $14,056,000.00. Following the completion of the sale, the chief executive officer now owns 616,309 shares of the company’s stock, valued at $43,314,196.52. The disclosure for this sale can be found here. Insiders have sold a total of 210,178 shares of company stock worth $14,701,258 in the last three months. 0.89% of the stock is currently owned by company insiders.
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.
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