ProShare Advisors LLC Lowers Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

ProShare Advisors LLC reduced its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.3% in the first quarter, Holdings Channel reports. The firm owned 48,022 shares of the data storage provider’s stock after selling 2,143 shares during the period. ProShare Advisors LLC’s holdings in Seagate Technology were worth $4,468,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Seagate Technology during the fourth quarter valued at $26,000. CVA Family Office LLC bought a new stake in shares of Seagate Technology during the 4th quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Seagate Technology during the fourth quarter worth about $28,000. Northwest Financial Advisors bought a new position in shares of Seagate Technology in the fourth quarter worth approximately $31,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Seagate Technology in the fourth quarter valued at approximately $43,000. Institutional investors own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the transaction, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at $504,200. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00. Following the completion of the transaction, the executive vice president now owns 5,042 shares in the company, valued at $504,200. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares in the company, valued at approximately $1,599,030. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,531 shares of company stock valued at $3,592,946. Company insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STX shares. Mizuho boosted their price target on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Citigroup increased their target price on Seagate Technology from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Cantor Fitzgerald lifted their price target on Seagate Technology from $100.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday. Susquehanna increased their price objective on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Finally, Wedbush upgraded Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 target price for the company in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Seagate Technology presently has a consensus rating of “Hold” and an average target price of $100.94.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $103.47 on Friday. The stock’s 50-day moving average is $99.97 and its 200 day moving average is $92.01. Seagate Technology Holdings plc has a 1 year low of $57.32 and a 1 year high of $109.63.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. Seagate Technology’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.43) earnings per share. As a group, analysts forecast that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 20th were issued a $0.70 dividend. The ex-dividend date was Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 2.71%. Seagate Technology’s dividend payout ratio (DPR) is presently -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.