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Nordea Investment Management AB lessened its position in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 91.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,663 shares of the data storage provider’s stock after selling 143,465 shares during the quarter. Nordea Investment Management AB’s holdings in Seagate Technology were worth $830,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in STX. BlackRock Inc. lifted its position in Seagate Technology by 20.5% during the first quarter. BlackRock Inc. now owns 15,620,098 shares of the data storage provider’s stock worth $1,032,801,000 after buying an additional 2,662,098 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Seagate Technology by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 15,279,089 shares of the data storage provider’s stock worth $1,010,254,000 after buying an additional 837,041 shares in the last quarter. State Street Corp lifted its position in Seagate Technology by 9.6% during the first quarter. State Street Corp now owns 9,360,341 shares of the data storage provider’s stock worth $625,307,000 after buying an additional 819,501 shares in the last quarter. Geode Capital Management LLC raised its position in Seagate Technology by 3.4% in the second quarter. Geode Capital Management LLC now owns 3,519,253 shares of the data storage provider’s stock valued at $217,197,000 after purchasing an additional 115,701 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Seagate Technology by 24.3% in the third 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 purchasing an additional 470,592 shares during the period. Hedge funds and other institutional investors own 85.26% of the company’s stock.
Seagate Technology Price Performance
Shares of NASDAQ STX opened at $87.98 on Friday. The company has a market capitalization of $18.43 billion, a price-to-earnings ratio of -25.14 and a beta of 1.04. The business has a 50-day moving average of $85.60 and a two-hundred day moving average of $75.57. Seagate Technology Holdings plc has a 1 year low of $54.32 and a 1 year high of $92.04.
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.19. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. As a group, equities research analysts expect that Seagate Technology Holdings plc will post -0.17 earnings per share for the current year.
Seagate Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Wednesday, March 20th. Seagate Technology’s dividend payout ratio (DPR) is -80.00%.
Analysts Set New Price Targets
A number of equities research analysts have commented on STX shares. Wells Fargo & Company lifted their target price on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. TD Cowen lifted their target price on Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Bank of America lifted their target price on Seagate Technology from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. The Goldman Sachs Group lifted their price objective on Seagate Technology from $65.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, BNP Paribas cut Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Seagate Technology has a consensus rating of “Hold” and a consensus target price of $79.00.
Read Our Latest Stock Report on Seagate Technology
Insiders Place Their Bets
In other Seagate Technology news, EVP Ban Seng Teh sold 8,000 shares of Seagate Technology stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $79.70, for a total transaction of $637,600.00. Following the completion of the sale, the executive vice president now directly owns 33,690 shares of the company’s stock, valued at approximately $2,685,093. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Ban Seng Teh sold 8,000 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $79.70, for a total value of $637,600.00. Following the completion of the sale, the executive vice president now directly owns 33,690 shares of the company’s stock, valued at approximately $2,685,093. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gianluca Romano sold 475 shares of the business’s stock in a transaction dated Saturday, December 9th. The shares were sold at an average price of $80.59, for a total value of $38,280.25. Following the completion of the sale, the chief financial officer now directly owns 63,874 shares of the company’s stock, valued at $5,147,605.66. The disclosure for this sale can be found here. Insiders sold 81,994 shares of company stock valued at $6,547,701 in the last ninety days. Insiders own 0.89% of the company’s stock.
Seagate Technology Company 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.
Further Reading
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