Envestnet Asset Management Inc. Trims Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Envestnet Asset Management Inc. lowered its stake in Seagate Technology Holdings plc (NASDAQ:STXGet Rating) by 7.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 279,089 shares of the data storage provider’s stock after selling 21,327 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of Seagate Technology worth $25,090,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sara Bay Financial lifted its stake in Seagate Technology by 9.0% in the 1st quarter. Sara Bay Financial now owns 13,572 shares of the data storage provider’s stock valued at $1,220,000 after buying an additional 1,126 shares in the last quarter. Atria Investments LLC purchased a new position in shares of Seagate Technology during the 4th quarter worth $1,220,000. New York State Teachers Retirement System lifted its stake in shares of Seagate Technology by 0.6% during the 1st quarter. New York State Teachers Retirement System now owns 245,646 shares of the data storage provider’s stock worth $22,084,000 after purchasing an additional 1,429 shares during the period. Laurel Wealth Advisors Inc. purchased a new position in shares of Seagate Technology during the 4th quarter worth $565,000. Finally, Stiles Financial Services Inc purchased a new position in shares of Seagate Technology during the 4th quarter worth $1,741,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on STX shares. Barclays reduced their price target on Seagate Technology from $85.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 21st. Rosenblatt Securities cut their target price on Seagate Technology from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Benchmark cut their target price on Seagate Technology from $93.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Craig Hallum lowered Seagate Technology from a “buy” rating to a “hold” rating and cut their target price for the stock from $112.00 to $79.00 in a research report on Friday, July 22nd. Finally, Mizuho cut their target price on Seagate Technology from $95.00 to $83.00 and set a “neutral” rating on the stock in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Seagate Technology has a consensus rating of “Hold” and an average price target of $89.85.

Seagate Technology Trading Down 0.6 %

NASDAQ STX opened at $79.54 on Tuesday. The firm has a market cap of $17.09 billion, a P/E ratio of 10.84, a P/E/G ratio of 9.21 and a beta of 1.07. Seagate Technology Holdings plc has a one year low of $67.36 and a one year high of $117.67. The company has a debt-to-equity ratio of 46.44, a current ratio of 1.13 and a quick ratio of 0.69. The stock’s 50-day moving average is $77.54 and its 200-day moving average is $87.96.

Seagate Technology (NASDAQ:STXGet Rating) last announced its earnings results on Thursday, July 21st. The data storage provider reported $1.59 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.17). Seagate Technology had a return on equity of 412.90% and a net margin of 14.14%. During the same quarter last year, the firm posted $1.92 EPS. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 21st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.52%. Seagate Technology’s dividend payout ratio (DPR) is currently 38.15%.

Seagate Technology Company Profile

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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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Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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