TD Asset Management Inc Sells 11,971 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

TD Asset Management Inc lowered its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 9.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 118,959 shares of the data storage provider’s stock after selling 11,971 shares during the period. TD Asset Management Inc’s holdings in Seagate Technology were worth $7,360,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. acquired a new stake in Seagate Technology during the second quarter worth approximately $28,000. Massmutual Trust Co. FSB ADV grew its stake in Seagate Technology by 57.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 536 shares of the data storage provider’s stock worth $33,000 after purchasing an additional 196 shares during the period. State of Wyoming acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $36,000. Barrett & Company Inc. acquired a new stake in Seagate Technology in the first quarter valued at approximately $41,000. Finally, CENTRAL TRUST Co grew its stake in Seagate Technology by 50.0% in the third quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider’s stock valued at $48,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 85.26% of the company’s stock.

Seagate Technology Trading Up 1.6 %

Shares of Seagate Technology stock opened at $77.06 on Tuesday. The business’s fifty day simple moving average is $68.18 and its 200 day simple moving average is $64.82. The firm has a market capitalization of $16.12 billion, a P/E ratio of -21.59 and a beta of 1.04. Seagate Technology Holdings plc has a 12 month low of $48.94 and a 12 month high of $77.25.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Thursday, October 26th. The data storage provider reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.51 billion. Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 10.91%. The business’s revenue was down 28.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. Analysts predict that Seagate Technology Holdings plc will post -0.37 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Thursday, December 21st will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.63%. Seagate Technology’s dividend payout ratio (DPR) is currently -78.43%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 200,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $70.28, for a total value of $14,056,000.00. Following the sale, the chief executive officer now directly owns 616,309 shares in the company, valued at $43,314,196.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Seagate Technology news, Director Edward J. Zander sold 1,370 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $65.25, for a total value of $89,392.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 200,000 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $70.28, for a total value of $14,056,000.00. Following the completion of the sale, the chief executive officer now owns 616,309 shares in the company, valued at $43,314,196.52. The disclosure for this sale can be found here. Insiders have sold a total of 228,530 shares of company stock worth $16,036,111 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research reports. Mizuho raised their price objective on Seagate Technology from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Summit Insights raised Seagate Technology from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Rosenblatt Securities raised their price objective on Seagate Technology from $68.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Evercore ISI reduced their price objective on Seagate Technology from $75.00 to $70.00 in a research note on Thursday, October 5th. Finally, Barclays cut Seagate Technology from an “overweight” rating to an “equal weight” rating and set a $65.00 target price on the stock. in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.35.

Seagate Technology 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.