Intellectus Partners LLC Lowers Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Intellectus Partners LLC cut its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 11.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,496 shares of the data storage provider’s stock after selling 459 shares during the period. Intellectus Partners LLC’s holdings in Seagate Technology were worth $301,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in STX. JPMorgan Chase & Co. lifted 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 acquiring an additional 1,485,937 shares during the last quarter. FMR LLC grew its stake in shares of Seagate Technology by 13.1% during the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after buying an additional 1,612,264 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Seagate Technology by 3.0% in the third quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock worth $288,960,000 after buying an additional 127,214 shares during the period. Invesco Ltd. lifted its stake in shares of Seagate Technology by 0.4% in the 3rd quarter. Invesco Ltd. now owns 2,804,277 shares of the data storage provider’s stock valued at $184,942,000 after acquiring an additional 10,697 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Seagate Technology by 24.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock valued at $158,950,000 after acquiring an additional 470,592 shares during the period. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on STX. Mizuho reaffirmed a “buy” rating and issued a $100.00 price target on shares of Seagate Technology in a research note on Tuesday, April 9th. TD Cowen increased their price target on shares of Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Robert W. Baird raised their price target on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group upped their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, BNP Paribas downgraded Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target on the stock. in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $94.53.

Seagate Technology Trading Up 0.0 %

STX opened at $86.08 on Tuesday. The company has a market cap of $18.03 billion, a price-to-earnings ratio of -66.73, a price-to-earnings-growth ratio of 238.62 and a beta of 1.04. The stock has a fifty day simple moving average of $89.22 and a two-hundred day simple moving average of $83.14. Seagate Technology Holdings plc has a 12-month low of $54.47 and a 12-month high of $101.26.

Seagate Technology (NASDAQ:STX) last issued 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 business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business earned ($0.43) earnings per share. The firm’s revenue was down 11.0% compared to the same quarter last year. On average, analysts predict that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. Seagate Technology’s dividend payout ratio is currently -217.05%.

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.