Banque Cantonale Vaudoise Decreases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Banque Cantonale Vaudoise lessened its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 57.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,951 shares of the data storage provider’s stock after selling 23,300 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Seagate Technology were worth $1,049,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC raised its holdings in Seagate Technology by 132.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 284,714 shares of the data storage provider’s stock valued at $18,825,000 after buying an additional 162,417 shares during the period. Avantax Advisory Services Inc. raised its holdings in Seagate Technology by 30.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,378 shares of the data storage provider’s stock valued at $686,000 after buying an additional 2,397 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Seagate Technology by 22.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 6,482 shares of the data storage provider’s stock valued at $401,000 after buying an additional 1,188 shares during the period. Resources Investment Advisors LLC. purchased a new stake in Seagate Technology during the 1st quarter valued at $208,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Seagate Technology by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,160,533 shares of the data storage provider’s stock valued at $76,734,000 after buying an additional 36,407 shares during the period. Hedge funds and other institutional investors own 85.26% of the company’s stock.

Seagate Technology Price Performance

STX opened at $74.61 on Wednesday. Seagate Technology Holdings plc has a 12-month low of $48.94 and a 12-month high of $74.81. The business’s fifty day simple moving average is $67.34 and its 200-day simple moving average is $64.17.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Thursday, October 26th. The data storage provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 10.91%. The company’s revenue for the quarter was down 28.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. Equities analysts predict that Seagate Technology Holdings plc will post -0.36 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 Tuesday, January 9th. Investors of record on Thursday, December 21st will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Wednesday, December 20th. Seagate Technology’s dividend payout ratio (DPR) is currently -78.43%.

Insider Buying and Selling

In related news, Director Edward J. Zander sold 1,370 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $65.25, for a total transaction of $89,392.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Seagate Technology news, Director Edward J. Zander sold 1,370 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $65.25, for a total value of $89,392.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 200,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $70.28, for a total value of $14,056,000.00. Following the completion of the sale, the chief executive officer now owns 616,309 shares of the company’s stock, valued at $43,314,196.52. The disclosure for this sale can be found here. Insiders sold 228,530 shares of company stock worth $16,036,111 in the last three months. 0.89% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on STX shares. StockNews.com downgraded Seagate Technology from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Mizuho upped their price objective on Seagate Technology from $66.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, October 27th. The Goldman Sachs Group cut their price objective on Seagate Technology from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Barclays downgraded Seagate Technology from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective on the stock. in a research report on Thursday, September 7th. Finally, Rosenblatt Securities upped their price objective on Seagate Technology from $68.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Hold” and an average target price of $65.35.

About Seagate Technology

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.