Assenagon Asset Management S.A. Trims Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Assenagon Asset Management S.A. decreased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,436 shares of the data storage provider’s stock after selling 344 shares during the period. Assenagon Asset Management S.A.’s holdings in Seagate Technology were worth $728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in shares of Seagate Technology during the 3rd quarter valued at about $26,000. Quarry LP bought a new stake in Seagate Technology during the second quarter valued at approximately $27,000. Advisors Asset Management Inc. increased its holdings in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after buying an additional 258 shares during the last quarter. JFS Wealth Advisors LLC raised its position in shares of Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after buying an additional 293 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Seagate Technology during the 3rd quarter worth $53,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $120.00 price objective on shares of Seagate Technology in a report on Wednesday. Citigroup increased their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley decreased their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus price target of $122.56.

Seagate Technology Price Performance

NASDAQ:STX opened at $108.19 on Friday. The firm has a market capitalization of $22.89 billion, a P/E ratio of 19.78 and a beta of 1.06. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32. The company’s 50-day simple moving average is $95.00 and its 200 day simple moving average is $100.42.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.34) EPS. On average, equities research analysts expect that Seagate Technology Holdings plc will post 6.92 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.66%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares of the company’s stock, valued at approximately $63,947,726.41. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,073 shares of company stock worth $5,106,149. Corporate insiders own 0.81% of the company’s stock.

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.