Seagate Technology Holdings plc (NASDAQ:STX) Stock Position Decreased by Fmr LLC

Fmr LLC cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 15.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,471,865 shares of the data storage provider’s stock after selling 1,578,809 shares during the period. Fmr LLC owned approximately 4.01% of Seagate Technology worth $927,923,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of STX. Ashton Thomas Securities LLC purchased a new stake in Seagate Technology during the third quarter valued at about $26,000. Quarry LP purchased a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. purchased a new position in Seagate Technology during the 2nd quarter worth approximately $41,000. Finally, Advisors Asset Management Inc. raised its stake in Seagate Technology by 177.9% during the 3rd 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 during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STX. Citigroup raised their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI lifted their target price on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Buying and Selling

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. This represents a 19.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is owned by company insiders.

Seagate Technology Trading Down 1.6 %

NASDAQ:STX opened at $100.00 on Thursday. The firm has a market capitalization of $21.15 billion, a PE ratio of 26.11 and a beta of 1.05. Seagate Technology Holdings plc has a 1 year low of $76.30 and a 1 year high of $115.32. The firm’s fifty day simple moving average is $104.68 and its 200 day simple moving average is $101.91.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) EPS. As a group, analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.88%. Seagate Technology’s dividend payout ratio (DPR) is presently 73.11%.

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.