Northern Trust Corp lessened its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,544,123 shares of the data storage provider’s stock after selling 105,550 shares during the period. Northern Trust Corp owned approximately 0.74% of Seagate Technology worth $131,822,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in STX. Capital Research Global Investors raised its holdings in shares of 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 buying an additional 4,685,454 shares in the last quarter. Norges Bank acquired a new position in shares of Seagate Technology in the 4th quarter worth approximately $188,834,000. FMR LLC raised its holdings in shares of Seagate Technology by 13.1% in the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock worth $918,664,000 after buying an additional 1,612,264 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after buying an additional 1,485,937 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Seagate Technology by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock worth $86,572,000 after buying an additional 460,599 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.
Insider Buying and Selling
In related news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the sale, the executive vice president now owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the sale, the executive vice president now owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Christopher Morris sold 11,158 shares of the firm’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 in the company, valued at approximately $1,599,030. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on STX. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Susquehanna increased their price target on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Loop Capital increased their price target on Seagate Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Citigroup started coverage on Seagate Technology in a research report on Tuesday, May 14th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Mizuho increased their price target on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $98.29.
Get Our Latest Research Report on STX
Seagate Technology Stock Performance
NASDAQ:STX opened at $99.52 on Tuesday. Seagate Technology Holdings plc has a 12-month low of $57.32 and a 12-month high of $101.26. The stock’s fifty day simple moving average is $90.75 and its 200-day simple moving average is $87.83.
Seagate Technology (NASDAQ:STX – Get Free Report) last posted its quarterly earnings results 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 company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business earned ($0.43) earnings per share. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, equities analysts anticipate that Seagate Technology Holdings plc will post 0.4 EPS for the current fiscal year.
Seagate Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s payout ratio is presently -217.05%.
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.
See Also
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