Cwm LLC Trims Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Cwm LLC lowered its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,210 shares of the data storage provider’s stock after selling 231 shares during the period. Cwm LLC’s holdings in Seagate Technology were worth $299,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Symmetry Partners LLC purchased a new position in Seagate Technology in the first quarter valued at about $230,000. HighPoint Advisor Group LLC purchased a new position in Seagate Technology during the fourth quarter valued at approximately $219,000. Vanguard Group Inc. increased its position in shares of Seagate Technology by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 24,006,681 shares of the data storage provider’s stock worth $2,049,450,000 after purchasing an additional 425,117 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in Seagate Technology during the fourth quarter worth $47,000. Finally, SageView Advisory Group LLC acquired a new position in Seagate Technology during the fourth quarter worth $329,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 0.4 %

Shares of NASDAQ:STX opened at $103.08 on Friday. The company’s fifty day moving average is $93.42 and its two-hundred day moving average is $89.41. Seagate Technology Holdings plc has a 12-month low of $57.32 and a 12-month high of $107.91. The company has a market cap of $21.65 billion, a P/E ratio of -79.91 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data 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 firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business posted ($0.43) earnings per share. Seagate Technology’s revenue was down 11.0% on a year-over-year basis. Equities research analysts anticipate that Seagate Technology Holdings plc will post 0.44 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is presently -217.05%.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the completion of the transaction, the senior vice president now owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of Seagate Technology stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the sale, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at approximately $504,200. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,531 shares of company stock valued at $3,592,946. 0.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STX shares. Loop Capital boosted their price objective on Seagate Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. UBS Group increased their target price on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Barclays dropped their price objective on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Finally, The Goldman Sachs Group upped their target price on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Hold” and an average price target of $98.29.

About Seagate Technology

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.