Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Seagate Technology Holdings plc (NASDAQ:STXGet Rating) by 0.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 228,678 shares of the data storage provider’s stock after selling 496 shares during the quarter. Principal Financial Group Inc.’s holdings in Seagate Technology were worth $16,337,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Seagate Technology by 7.8% during the first quarter. JPMorgan Chase & Co. now owns 12,957,187 shares of the data storage provider’s stock worth $1,164,852,000 after purchasing an additional 939,313 shares during the last quarter. Sanders Capital LLC increased its position in Seagate Technology by 31.1% during the first quarter. Sanders Capital LLC now owns 5,240,802 shares of the data storage provider’s stock worth $517,577,000 after purchasing an additional 1,242,350 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Seagate Technology by 41.1% during the first 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 period. Invesco Ltd. boosted its stake in Seagate Technology by 4.4% during the first quarter. Invesco Ltd. now owns 1,843,144 shares of the data storage provider’s stock worth $165,698,000 after buying an additional 78,298 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Seagate Technology during the second quarter worth about $83,163,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Up 1.3 %

Shares of NASDAQ:STX opened at $54.81 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.19 and a debt-to-equity ratio of 46.44. Seagate Technology Holdings plc has a fifty-two week low of $47.47 and a fifty-two week high of $117.67. The firm’s 50 day moving average price is $54.66 and its 200 day moving average price is $69.14. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 22.45 and a beta of 1.09.

Seagate Technology (NASDAQ:STXGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The data storage provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Seagate Technology had a return on equity of 716.97% and a net margin of 10.89%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $2.27 EPS. The firm’s revenue for the quarter was down 34.7% compared to the same quarter last year. As a group, equities research analysts predict that Seagate Technology Holdings plc will post 1.99 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Wednesday, December 21st will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 5.11%. Seagate Technology’s payout ratio is currently 53.85%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STX. Rosenblatt Securities lowered their target price on shares of Seagate Technology from $80.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, October 27th. Morgan Stanley lowered their target price on shares of Seagate Technology from $57.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, October 27th. UBS Group lowered shares of Seagate Technology from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $85.00 to $55.00 in a research note on Thursday, October 27th. Benchmark lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research note on Thursday, September 1st. Finally, Northland Securities lowered their target price on shares of Seagate Technology from $88.00 to $70.00 in a research note on Thursday, October 27th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $70.17.

About Seagate Technology

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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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