Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Sara Bay Financial

Sara Bay Financial lessened its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,419 shares of the data storage provider’s stock after selling 211 shares during the quarter. Sara Bay Financial’s holdings in Seagate Technology were worth $706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Panagora Asset Management Inc. boosted its position in shares of Seagate Technology by 65.3% during the 1st quarter. Panagora Asset Management Inc. now owns 11,805 shares of the data storage provider’s stock valued at $1,061,000 after acquiring an additional 4,663 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Seagate Technology by 0.6% during the 1st quarter. Rhumbline Advisers now owns 182,883 shares of the data storage provider’s stock valued at $16,441,000 after acquiring an additional 1,037 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Seagate Technology by 4.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,946 shares of the data storage provider’s stock valued at $2,422,000 after acquiring an additional 1,237 shares during the last quarter. Sei Investments Co. boosted its position in shares of Seagate Technology by 153.5% during the 1st quarter. Sei Investments Co. now owns 89,250 shares of the data storage provider’s stock valued at $8,059,000 after acquiring an additional 54,038 shares during the last quarter. Finally, Aviva PLC boosted its position in shares of Seagate Technology by 44.3% during the 1st quarter. Aviva PLC now owns 95,541 shares of the data storage provider’s stock valued at $8,589,000 after acquiring an additional 29,329 shares during the last quarter. Institutional investors and hedge funds own 82.69% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $61.05 on Friday. The stock has a 50 day moving average price of $64.70 and a 200 day moving average price of $58.62. The company has a quick ratio of 0.69, a current ratio of 1.13 and a debt-to-equity ratio of 46.44. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 51.82 and a beta of 1.07. Seagate Technology Holdings plc has a 52-week low of $47.47 and a 52-week high of $94.72.

Seagate Technology (NASDAQ:STX – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The data storage provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.83 billion. Seagate Technology had a negative return on equity of 1,031.05% and a net margin of 6.61%. The firm’s quarterly revenue was down 39.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 earnings per share. Research analysts predict that Seagate Technology Holdings plc will post 0.98 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, March 22nd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Tuesday, March 21st. Seagate Technology’s payout ratio is currently 99.64%.

Insider Activity

In other news, EVP Jeffrey D. Nygaard sold 36,809 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $69.14, for a total value of $2,544,974.26. Following the completion of the sale, the executive vice president now directly owns 30,360 shares of the company’s stock, valued at $2,099,090.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays boosted their price target on shares of Seagate Technology from $70.00 to $75.00 in a research report on Thursday, January 26th. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $61.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 27th. Morgan Stanley boosted their price objective on shares of Seagate Technology from $69.00 to $72.00 in a report on Thursday, January 26th. Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 26th. Finally, Cowen boosted their price objective on shares of Seagate Technology from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Hold” and an average price target of $69.58.

Seagate Technology Profile

(Get Rating)

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.