Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. lowered its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 18.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 643 shares of the data storage provider’s stock after selling 150 shares during the period. MV Capital Management Inc.’s holdings in Seagate Technology were worth $60,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in STX. Vanguard Group Inc. boosted its holdings in Seagate Technology by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 24,006,681 shares of the data storage provider’s stock worth $2,049,450,000 after acquiring an additional 425,117 shares during the period. JPMorgan Chase & Co. grew its holdings in Seagate Technology by 9.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after purchasing an additional 1,485,937 shares in the last quarter. Capital Research Global Investors grew its holdings in Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after purchasing an additional 4,685,454 shares in the last quarter. Sanders Capital LLC increased its stake in Seagate Technology by 3.0% during the 4th quarter. Sanders Capital LLC now owns 15,486,153 shares of the data storage provider’s stock worth $1,322,053,000 after buying an additional 443,768 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Seagate Technology by 3.0% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 0.7 %

STX stock opened at $103.13 on Wednesday. The firm’s 50-day simple moving average is $96.09 and its 200 day simple moving average is $90.50. The stock has a market cap of $21.66 billion, a PE ratio of -79.95 and a beta of 1.02. Seagate Technology Holdings plc has a fifty-two week low of $57.32 and a fifty-two week high of $107.91.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted ($0.43) EPS. The business’s quarterly revenue was down 11.0% on a year-over-year basis. Equities analysts forecast that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The business 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 $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.72%. Seagate Technology’s dividend payout ratio is presently -217.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STX. Cantor Fitzgerald lifted their target price on Seagate Technology from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Bank of America restated a “buy” rating and set a $110.00 price objective on shares of Seagate Technology in a report on Wednesday, June 5th. Wedbush upgraded Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Wednesday, May 1st. Loop Capital upped their price target on shares of Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Two research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $98.29.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 10,742 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00. Following the sale, the executive vice president now owns 5,042 shares of the company’s stock, valued at approximately $504,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 value of $1,074,200.00. Following the completion of the transaction, the executive vice president now owns 5,042 shares in the company, valued at $504,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,531 shares of company stock valued at $3,592,946. Company insiders own 0.89% of the company’s stock.

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.