Bayesian Capital Management LP Sells 42,300 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Bayesian Capital Management LP cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 75.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,504 shares of the data storage provider’s stock after selling 42,300 shares during the quarter. Bayesian Capital Management LP’s holdings in Seagate Technology were worth $1,257,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Seagate Technology in the 4th quarter worth approximately $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology during the 4th quarter worth approximately $28,000. Northwest Financial Advisors purchased a new stake in shares of Seagate Technology during the 4th quarter worth approximately $31,000. Valley National Advisers Inc. raised its holdings in shares of Seagate Technology by 39.7% during the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 144 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Seagate Technology during the 4th quarter worth approximately $44,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Up 2.8 %

Shares of NASDAQ:STX opened at $101.83 on Wednesday. Seagate Technology Holdings plc has a 52-week low of $62.43 and a 52-week high of $113.57. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of -76.82 and a beta of 1.02. The business has a 50-day moving average price of $101.56 and a 200-day moving average price of $93.50.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the business posted ($0.29) earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities analysts anticipate that Seagate Technology Holdings plc will post 6.21 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.

Analyst Ratings Changes

Several research firms recently weighed in on STX. Bank of America restated a “buy” rating and set a $110.00 price target on shares of Seagate Technology in a report on Wednesday, June 5th. Barclays increased their price target on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Robert W. Baird upped their price objective on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. UBS Group upped their price objective on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Loop Capital upped their price objective on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $115.94.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $99.99, for a total value of $592,740.72. Following the sale, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at $1,218,378.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now owns 15,185 shares in the company, valued at $1,442,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Christopher Morris sold 5,928 shares of Seagate Technology stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the completion of the sale, the senior vice president now owns 12,185 shares in the company, valued at approximately $1,218,378.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,648 shares of company stock valued at $4,705,816. Company insiders own 0.89% of the company’s stock.

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.