Handelsbanken Fonder AB Sells 17,837 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Handelsbanken Fonder AB reduced its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,586 shares of the data storage provider’s stock after selling 17,837 shares during the quarter. Handelsbanken Fonder AB’s holdings in Seagate Technology were worth $6,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. CWM LLC raised its position in shares of Seagate Technology by 3.9% in the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after purchasing an additional 130 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Seagate Technology by 5.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 30,763 shares of the data storage provider’s stock valued at $2,626,000 after purchasing an additional 1,614 shares during the period. Nicholas Hoffman & Company LLC. bought a new position in shares of Seagate Technology in the fourth quarter valued at about $221,000. Verdence Capital Advisors LLC raised its position in shares of Seagate Technology by 1.5% in the fourth quarter. Verdence Capital Advisors LLC now owns 29,987 shares of the data storage provider’s stock valued at $2,560,000 after purchasing an additional 439 shares during the period. Finally, abrdn plc raised its position in shares of Seagate Technology by 78.8% in the fourth quarter. abrdn plc now owns 88,343 shares of the data storage provider’s stock valued at $7,542,000 after purchasing an additional 38,938 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Up 0.2 %

STX opened at $87.26 on Friday. The company’s 50 day moving average is $89.28 and its 200-day moving average is $82.67. Seagate Technology Holdings plc has a 1-year low of $54.47 and a 1-year high of $101.26. The company has a market cap of $18.28 billion, a P/E ratio of -67.64, a PEG ratio of 719.92 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business posted ($0.43) earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, equities analysts forecast that Seagate Technology Holdings plc will post 0.1 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.21%. Seagate Technology’s payout ratio is currently -217.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. Wedbush reaffirmed a “neutral” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Wednesday. Rosenblatt Securities raised their price target on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Finally, BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target on the stock. in a research report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $94.53.

Seagate Technology Company 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.