Truist Financial Corp Sells 176 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Truist Financial Corp cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,947 shares of the data storage provider’s stock after selling 176 shares during the quarter. Truist Financial Corp’s holdings in Seagate Technology were worth $2,898,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Commonwealth Equity Services LLC raised its position in shares of Seagate Technology by 5.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 84,804 shares of the data storage provider’s stock valued at $5,593,000 after purchasing an additional 4,406 shares during the period. Raymond James & Associates lifted its position in shares of Seagate Technology by 18.5% in the third quarter. Raymond James & Associates now owns 319,399 shares of the data storage provider’s stock valued at $21,064,000 after acquiring an additional 49,823 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Seagate Technology by 1.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 69,580 shares of the data storage provider’s stock worth $4,589,000 after acquiring an additional 842 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Seagate Technology by 2.5% in the third quarter. Mackenzie Financial Corp now owns 17,668 shares of the data storage provider’s stock worth $1,156,000 after acquiring an additional 427 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Seagate Technology by 31.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,179 shares of the data storage provider’s stock valued at $4,167,000 after purchasing an additional 15,146 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $89.51 on Wednesday. The company has a market cap of $18.80 billion, a P/E ratio of -69.39, a PEG ratio of 242.66 and a beta of 1.06. The firm has a 50-day simple moving average of $89.18 and a two-hundred day simple moving average of $83.96. Seagate Technology Holdings plc has a 1 year low of $55.11 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.43) EPS. As a group, equities research analysts expect that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s payout ratio is presently -217.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STX shares. Robert W. Baird increased their price objective on shares of Seagate Technology from $70.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Wells Fargo & Company boosted their price target on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 1st. Susquehanna lifted their target price on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a report on Wednesday, April 10th. Rosenblatt Securities increased their price target on Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, TD Cowen lifted their price objective on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.