Amalgamated Bank Lowers Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Amalgamated Bank cut its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,991 shares of the data storage provider’s stock after selling 747 shares during the quarter. Amalgamated Bank’s holdings in Seagate Technology were worth $2,994,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of STX. Jump Financial LLC purchased a new position in Seagate Technology during the fourth quarter valued at $226,000. Coldstream Capital Management Inc. purchased a new stake in Seagate Technology during the 4th quarter valued at about $211,000. Corient Private Wealth LLC grew its position in Seagate Technology by 5.0% during the 4th quarter. Corient Private Wealth LLC now owns 21,696 shares of the data storage provider’s stock valued at $1,852,000 after purchasing an additional 1,030 shares during the last quarter. US Bancorp DE increased its stake in Seagate Technology by 3.0% during the 4th quarter. US Bancorp DE now owns 17,757 shares of the data storage provider’s stock valued at $1,516,000 after purchasing an additional 519 shares in the last quarter. Finally, Commerce Bank purchased a new position in Seagate Technology in the fourth quarter worth about $347,000. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now directly owns 5,387 shares in the company, valued at $592,570. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,627 shares of company stock worth $5,489,495. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on STX. StockNews.com downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Robert W. Baird boosted their price target on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Loop Capital upped their price target on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, July 24th. Finally, Morgan Stanley upped their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $115.94.

Seagate Technology Trading Up 1.8 %

Shares of NASDAQ:STX opened at $105.88 on Tuesday. Seagate Technology Holdings plc has a 12-month low of $63.32 and a 12-month high of $113.57. The company has a market cap of $22.23 billion, a PE ratio of -82.08 and a beta of 1.03. The stock has a 50 day moving average of $101.09 and a 200 day moving average of $96.63.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted ($0.29) earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio (DPR) is -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.