Capital Investment Advisors LLC Cuts Position in Seagate Technology Holdings plc (NASDAQ:STX)

Capital Investment Advisors LLC cut its stake in Seagate Technology Holdings plc (NASDAQ:STXGet Rating) by 7.4% during the second quarter, HoldingsChannel reports. The fund owned 3,677 shares of the data storage provider’s stock after selling 293 shares during the quarter. Capital Investment Advisors LLC’s holdings in Seagate Technology were worth $263,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of Seagate Technology by 7.8% in the 1st quarter. JPMorgan Chase & Co. now owns 12,957,187 shares of the data storage provider’s stock valued at $1,164,852,000 after acquiring an additional 939,313 shares during the period. State Street Corp grew its stake in Seagate Technology by 2.5% during the 4th quarter. State Street Corp now owns 9,367,384 shares of the data storage provider’s stock worth $1,064,798,000 after buying an additional 230,667 shares during the last quarter. Sanders Capital LLC grew its stake in Seagate Technology by 31.1% during the 1st quarter. Sanders Capital LLC now owns 5,240,802 shares of the data storage provider’s stock worth $517,577,000 after buying an additional 1,242,350 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Seagate Technology by 41.1% during the 1st quarter. Bank of New York Mellon Corp now owns 3,898,164 shares of the data storage provider’s stock worth $350,445,000 after buying an additional 1,134,751 shares during the last quarter. Finally, Norges Bank purchased a new position in Seagate Technology during the 4th quarter worth $221,348,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $62.71 on Monday. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 46.44. Seagate Technology Holdings plc has a twelve month low of $61.54 and a twelve month high of $117.67. The business has a 50-day moving average price of $75.09 and a 200 day moving average price of $80.28. The firm has a market cap of $12.97 billion, a PE ratio of 8.54, a P/E/G ratio of 10.47 and a beta of 1.11.

Seagate Technology (NASDAQ:STXGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The data storage provider reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.33). Seagate Technology had a net margin of 14.14% and a return on equity of 412.90%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. Sell-side analysts predict that Seagate Technology Holdings plc will post 4.95 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, September 20th. This represents a $2.80 annualized dividend and a yield of 4.46%. Seagate Technology’s dividend payout ratio (DPR) is currently 38.15%.

Wall Street Analysts Forecast Growth

STX has been the topic of several research analyst reports. Credit Suisse Group dropped their target price on Seagate Technology from $80.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, September 1st. Rosenblatt Securities dropped their target price on Seagate Technology from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, September 1st. Barclays dropped their target price on Seagate Technology from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 1st. Northland Securities lowered their price target on Seagate Technology from $105.00 to $88.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st. Finally, Robert W. Baird lowered their price target on Seagate Technology from $80.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $80.48.

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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