Fmr LLC Sells 1,578,809 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Fmr LLC trimmed its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 15.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,471,865 shares of the data storage provider’s stock after selling 1,578,809 shares during the period. Fmr LLC’s holdings in Seagate Technology were worth $927,923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of Seagate Technology in the 2nd quarter worth approximately $35,349,000. Duquesne Family Office LLC grew its holdings in shares of Seagate Technology by 22.0% during the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares during the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Seagate Technology during the third quarter worth $32,598,000. AQR Capital Management LLC increased its stake in shares of Seagate Technology by 519.1% in the second quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider’s stock valued at $33,398,000 after buying an additional 271,160 shares in the last quarter. Finally, Liontrust Investment Partners LLP bought a new position in shares of Seagate Technology in the second quarter valued at about $24,635,000. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup upped their price objective on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Northland Securities lifted their target price on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Trading Down 1.6 %

STX stock opened at $100.00 on Thursday. Seagate Technology Holdings plc has a 1-year low of $76.30 and a 1-year high of $115.32. The business’s 50-day moving average price is $104.68 and its two-hundred day moving average price is $101.91. The firm has a market cap of $21.15 billion, a PE ratio of 26.11 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned ($0.34) EPS. Seagate Technology’s quarterly revenue was up 49.1% compared to the same quarter last year. On average, analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a $0.72 dividend. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s payout ratio is currently 73.11%.

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The trade was a 19.82 % 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 John Christopher Morris sold 1,131 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,820 shares of company stock valued at $21,892,856. Company insiders own 0.81% 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.