Alpha Paradigm Partners LLC lowered its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,987 shares of the data storage provider’s stock after selling 130 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in Seagate Technology were worth $351,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stonebridge Capital Advisors LLC purchased a new position in shares of Seagate Technology during the 1st quarter valued at $25,000. Evoke Wealth LLC raised its stake in shares of Seagate Technology by 4,170.0% during the 2nd quarter. Evoke Wealth LLC now owns 427 shares of the data storage provider’s stock valued at $38,000 after purchasing an additional 417 shares during the period. Kempen Capital Management N.V. raised its stake in shares of Seagate Technology by 41.3% during the 2nd quarter. Kempen Capital Management N.V. now owns 462 shares of the data storage provider’s stock valued at $41,000 after purchasing an additional 135 shares during the period. Harbor Investment Advisory LLC raised its stake in shares of Seagate Technology by 23.8% during the 2nd quarter. Harbor Investment Advisory LLC now owns 593 shares of the data storage provider’s stock valued at $52,000 after purchasing an additional 114 shares during the period. Finally, Penserra Capital Management LLC raised its stake in shares of Seagate Technology by 20.1% during the 2nd quarter. Penserra Capital Management LLC now owns 676 shares of the data storage provider’s stock valued at $59,000 after purchasing an additional 113 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.
STX has been the topic of a number of analyst reports. Summit Insights lowered Seagate Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 21st. Benchmark decreased their price objective on Seagate Technology from $112.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, July 22nd. Wedbush boosted their price objective on Seagate Technology from $70.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 16th. They noted that the move was a valuation call. Mizuho decreased their price objective on Seagate Technology from $95.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, July 22nd. Finally, UBS Group upgraded Seagate Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $83.00 to $105.00 in a research note on Monday, August 16th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.09.
Shares of STX stock opened at $79.57 on Thursday. Seagate Technology Holdings plc has a 1-year low of $46.92 and a 1-year high of $106.22. The company has a debt-to-equity ratio of 7.76, a current ratio of 1.29 and a quick ratio of 0.88. The business has a 50-day moving average of $86.27 and a 200 day moving average of $87.82. The stock has a market capitalization of $18.11 billion, a PE ratio of 14.63, a P/E/G ratio of 9.09 and a beta of 1.08.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 20th. The data storage provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.26. Seagate Technology had a return on equity of 130.74% and a net margin of 12.30%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the business posted $1.20 EPS. The business’s revenue was up 19.7% on a year-over-year basis. Analysts anticipate that Seagate Technology Holdings plc will post 7.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 6th. Shareholders of record on Wednesday, September 22nd were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Tuesday, September 21st. Seagate Technology’s dividend payout ratio (DPR) is currently 50.85%.
Seagate Technology Company Profile
Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.
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