US Bancorp DE reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 13.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,985 shares of the data storage provider’s stock after selling 2,134 shares during the period. US Bancorp DE’s holdings in Seagate Technology were worth $744,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in STX. Oakworth Capital Inc. purchased a new position in Seagate Technology during the 2nd quarter valued at about $29,000. Hallmark Capital Management Inc. bought a new stake in Seagate Technology during the 2nd quarter valued at approximately $32,000. Ronald Blue Trust Inc. bought a new stake in Seagate Technology during the 2nd quarter valued at approximately $33,000. West Branch Capital LLC bought a new stake in Seagate Technology during the 2nd quarter valued at approximately $35,000. Finally, Janiczek Wealth Management LLC boosted its position in shares of Seagate Technology by 286.4% in the 2nd quarter. Janiczek Wealth Management LLC now owns 541 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 401 shares in the last quarter. 82.69% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
STX has been the topic of a number of analyst reports. Susquehanna dropped their price target on Seagate Technology from $40.00 to $38.00 in a research report on Thursday, October 27th. TheStreet cut Seagate Technology from a “b-” rating to a “c” rating in a research report on Wednesday, October 26th. Mizuho decreased their price objective on shares of Seagate Technology from $75.00 to $62.00 and set a “neutral” rating for the company in a report on Thursday, October 27th. Northland Securities decreased their price objective on shares of Seagate Technology from $88.00 to $70.00 in a report on Thursday, October 27th. Finally, Rosenblatt Securities decreased their price objective on shares of Seagate Technology from $80.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.83.
Seagate Technology Price Performance
Seagate Technology (NASDAQ:STX – Get Rating) last announced its earnings results on Wednesday, October 26th. The data storage provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). Seagate Technology had a net margin of 10.89% and a return on equity of 716.97%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the business earned $2.27 earnings per share. Seagate Technology’s revenue was down 34.7% on a year-over-year basis. Sell-side analysts forecast that Seagate Technology Holdings plc will post 1.47 EPS for the current fiscal year.
Seagate Technology Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Shareholders of record on Wednesday, December 21st were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 4.72%. Seagate Technology’s payout ratio is 53.85%.
Seagate Technology 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.
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