Balentine LLC Trims Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Balentine LLC trimmed its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 11.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,335 shares of the data storage provider’s stock after selling 824 shares during the period. Balentine LLC’s holdings in Seagate Technology were worth $541,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in shares of Seagate Technology by 68.8% during the 4th quarter. New York State Common Retirement Fund now owns 143,049 shares of the data storage provider’s stock valued at $12,212,000 after purchasing an additional 58,300 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Seagate Technology by 9.2% in 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 acquiring an additional 1,485,937 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Seagate Technology by 8.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after acquiring an additional 561 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in shares of Seagate Technology in the 4th quarter valued at about $230,000. Finally, Gotham Asset Management LLC lifted its holdings in shares of Seagate Technology by 51.1% in the 3rd quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock valued at $5,717,000 after acquiring an additional 29,323 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 9,703 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the transaction, the executive vice president now directly owns 15,185 shares in the company, valued at $1,442,575. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Seagate Technology news, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the transaction, the senior vice president now directly owns 17,767 shares in the company, valued at approximately $1,599,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the transaction, the executive vice president now owns 15,185 shares in the company, valued at $1,442,575. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $93.60 on Wednesday. The firm has a fifty day moving average price of $89.29 and a 200 day moving average price of $85.80. Seagate Technology Holdings plc has a 1 year low of $57.06 and a 1 year high of $101.26. The stock has a market cap of $19.66 billion, a PE ratio of -72.56, a price-to-earnings-growth ratio of 198.04 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data 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 firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm posted ($0.43) EPS. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. As a group, equities analysts expect that Seagate Technology Holdings plc will post 0.4 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a dividend of $0.70 per share. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.99%. Seagate Technology’s payout ratio is presently -217.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on STX. Citigroup began coverage on shares of Seagate Technology in a report on Tuesday, May 14th. They issued a “buy” rating and a $110.00 price target for the company. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. TD Cowen increased their price objective on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. UBS Group increased their price objective on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company increased their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $95.50.

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.