QRG Capital Management Inc. cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 13.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,324 shares of the data storage provider’s stock after selling 1,665 shares during the period. QRG Capital Management Inc.’s holdings in Seagate Technology were worth $961,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 24,006,681 shares of the data storage provider’s stock worth $2,049,450,000 after purchasing an additional 425,117 shares during the period. Capital Research Global Investors increased its holdings in Seagate Technology by 39.3% in the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after acquiring an additional 4,685,454 shares during the last quarter. Sanders Capital LLC increased its holdings in Seagate Technology by 3.0% in the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after acquiring an additional 443,768 shares during the last quarter. Norges Bank purchased a new stake in Seagate Technology in the 4th quarter worth about $188,834,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Seagate Technology by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,215,280 shares of the data storage provider’s stock worth $103,748,000 after acquiring an additional 14,738 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on STX. The Goldman Sachs Group lifted their price objective on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America reissued a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a report on Wednesday, June 5th. Barclays reduced their target price on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. UBS Group lifted their target price on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Loop Capital boosted their price objective on Seagate Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $100.94.
Read Our Latest Research Report on Seagate Technology
Insider Activity at Seagate Technology
In related news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the transaction, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the sale, the executive vice president now directly owns 5,042 shares in the company, valued at $504,200. The disclosure for this sale can be found here. Insiders sold a total of 37,531 shares of company stock worth $3,592,946 over the last quarter. 0.89% of the stock is owned by corporate insiders.
Seagate Technology Trading Down 3.5 %
Shares of STX stock opened at $104.91 on Thursday. Seagate Technology Holdings plc has a fifty-two week low of $57.32 and a fifty-two week high of $109.63. The stock has a 50 day moving average price of $99.97 and a two-hundred day moving average price of $92.01.
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share 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 the consensus estimate of $1.68 billion. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) EPS. On average, analysts predict that Seagate Technology Holdings plc will post 0.44 earnings per share for the current year.
Seagate Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Thursday, June 20th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. Seagate Technology’s dividend payout ratio is presently -217.05%.
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.
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