Vontobel Holding Ltd. Reduces Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Vontobel Holding Ltd. trimmed its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 44.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,148 shares of the data storage provider’s stock after selling 2,501 shares during the period. Vontobel Holding Ltd.’s holdings in Seagate Technology were worth $340,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of STX. Park Avenue Securities LLC lifted its position in Seagate Technology by 7.1% during the 1st quarter. Park Avenue Securities LLC now owns 5,590 shares of the data storage provider’s stock valued at $520,000 after acquiring an additional 371 shares during the period. RFG Advisory LLC bought a new stake in Seagate Technology during the 1st quarter valued at about $235,000. Sunbelt Securities Inc. increased its stake in Seagate Technology by 269.1% during the 1st quarter. Sunbelt Securities Inc. now owns 753 shares of the data storage provider’s stock valued at $70,000 after purchasing an additional 549 shares in the last quarter. Viking Fund Management LLC increased its stake in Seagate Technology by 722.2% during the 1st quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock valued at $69,000 after purchasing an additional 650 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Seagate Technology by 20.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,105 shares of the data storage provider’s stock valued at $1,219,000 after purchasing an additional 2,217 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Robert W. Baird raised their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Citigroup lifted their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. TD Cowen lifted their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital lifted their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $115.94.

Seagate Technology Price Performance

NASDAQ:STX opened at $112.64 on Wednesday. Seagate Technology Holdings plc has a 1-year low of $64.12 and a 1-year high of $115.32. The company has a 50-day moving average of $104.92 and a 200 day moving average of $99.52. The firm has a market cap of $23.71 billion, a PE ratio of 73.14 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.32. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) earnings per share. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.09 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.56%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is presently 181.82%.

Insider Buying and Selling at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 of the company’s stock, valued at $291,567.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on 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 directly owns 3,034 shares of the company’s stock, valued at $291,567.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 214,298 shares of company stock valued at $22,814,576. 0.81% of the stock is currently owned by insiders.

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.