Foster & Motley Inc. Reduces Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Foster & Motley Inc. reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 19.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,037 shares of the data storage provider’s stock after selling 3,704 shares during the quarter. Foster & Motley Inc.’s holdings in Seagate Technology were worth $1,284,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of STX. Capital Investment Advisory Services LLC lifted its position in Seagate Technology by 4.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 4,655 shares of the data storage provider’s stock worth $397,000 after acquiring an additional 185 shares during the period. CWM LLC boosted its position in Seagate Technology by 3.9% in the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after buying an additional 130 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Seagate Technology by 5.5% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,763 shares of the data storage provider’s stock worth $2,626,000 after buying an additional 1,614 shares during the period. Nicholas Hoffman & Company LLC. purchased a new position in Seagate Technology during the 4th quarter worth approximately $221,000. Finally, Verdence Capital Advisors LLC lifted its stake in Seagate Technology by 1.5% during the 4th quarter. Verdence Capital Advisors LLC now owns 29,987 shares of the data storage provider’s stock valued at $2,560,000 after acquiring an additional 439 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Up 1.6 %

STX opened at $86.53 on Wednesday. The company has a market cap of $18.13 billion, a price-to-earnings ratio of -24.72, a PEG ratio of 703.97 and a beta of 1.04. The firm’s fifty day simple moving average is $89.29 and its two-hundred day simple moving average is $82.61. Seagate Technology Holdings plc has a 52-week low of $54.47 and a 52-week high of $101.26.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the company posted ($0.43) earnings per share. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, research analysts forecast that Seagate Technology Holdings plc will post 0.1 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. Seagate Technology’s dividend payout ratio (DPR) is presently -80.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. TD Cowen lifted their price objective on Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Mizuho restated a “buy” rating and issued a $100.00 target price on shares of Seagate Technology in a research note on Tuesday, April 9th. Wedbush reiterated a “neutral” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Thursday, January 25th. Finally, Wells Fargo & Company boosted their price target on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $91.73.

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.