Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.6% during the first quarter, Holdings Channel reports. The firm owned 595,100 shares of the data storage provider’s stock after selling 22,400 shares during the quarter. Swiss National Bank’s holdings in Seagate Technology were worth $55,374,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Deutsche Bank AG lifted its holdings in Seagate Technology by 10.7% during the 3rd quarter. Deutsche Bank AG now owns 652,989 shares of the data storage provider’s stock worth $43,065,000 after buying an additional 63,191 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Seagate Technology by 8.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 19,340 shares of the data storage provider’s stock worth $1,289,000 after purchasing an additional 1,568 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in Seagate Technology by 91.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the data storage provider’s stock worth $106,000 after purchasing an additional 589 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Seagate Technology in the 4th quarter valued at about $43,000. Finally, Czech National Bank raised its position in Seagate Technology by 1.1% in the 4th quarter. Czech National Bank now owns 34,072 shares of the data storage provider’s stock valued at $2,909,000 after purchasing an additional 361 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Stock Up 0.9 %

STX traded up $0.99 during trading on Friday, hitting $107.10. 2,040,678 shares of the stock were exchanged, compared to its average volume of 1,699,541. The stock has a fifty day moving average price of $98.90 and a two-hundred day moving average price of $91.56. Seagate Technology Holdings plc has a 1-year low of $57.32 and a 1-year high of $108.97. The firm has a market capitalization of $22.49 billion, a P/E ratio of -83.02 and a beta of 1.02.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period 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. Analysts predict that Seagate Technology Holdings plc will post 0.44 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, June 20th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Thursday, June 20th. Seagate Technology’s payout ratio is -217.05%.

Analysts Set New Price Targets

A number of research firms recently weighed in on STX. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Citigroup increased their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Susquehanna lifted their price objective on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald boosted their target price on shares of Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.88.

Insider Transactions at Seagate Technology

In related news, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were 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 in the company, valued at approximately $1,599,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology 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 directly owns 17,767 shares in the company, valued at approximately $1,599,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 approximately $504,200. The disclosure for this sale can be found here. Insiders have sold a total of 37,531 shares of company stock worth $3,592,946 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

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.