Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,575 shares of the data storage provider’s stock after selling 301 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Seagate Technology were worth $817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Valley National Advisers Inc. raised its stake in Seagate Technology by 39.7% during the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 144 shares in the last quarter. NewEdge Wealth LLC raised its stake in Seagate Technology by 3.6% during the 3rd quarter. NewEdge Wealth LLC now owns 4,214 shares of the data storage provider’s stock worth $278,000 after acquiring an additional 146 shares in the last quarter. IFP Advisors Inc raised its stake in Seagate Technology by 4.9% during the 3rd quarter. IFP Advisors Inc now owns 3,542 shares of the data storage provider’s stock worth $234,000 after acquiring an additional 164 shares in the last quarter. Bangor Savings Bank raised its stake in Seagate Technology by 2.5% during the 3rd quarter. Bangor Savings Bank now owns 6,768 shares of the data storage provider’s stock worth $446,000 after acquiring an additional 166 shares in the last quarter. Finally, Mariner LLC raised its stake in Seagate Technology by 0.6% during the 3rd quarter. Mariner LLC now owns 29,616 shares of the data storage provider’s stock worth $1,953,000 after acquiring an additional 185 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STX has been the topic of several research analyst reports. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research note on Thursday, January 11th. Cantor Fitzgerald lifted their price objective on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Susquehanna lifted their price objective on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Hold” and a consensus target price of $94.53.

Seagate Technology Stock Up 0.7 %

Shares of NASDAQ:STX opened at $87.11 on Thursday. The company has a market cap of $18.25 billion, a price-to-earnings ratio of -24.89, a PEG ratio of 703.97 and a beta of 1.04. The firm’s 50-day simple moving average is $89.30 and its 200-day simple moving average is $82.64. Seagate Technology Holdings plc has a fifty-two week low of $54.47 and a fifty-two week high of $101.26.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating the consensus estimate 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. The firm’s revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. On average, research analysts forecast that Seagate Technology Holdings plc will post 0.1 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.21%. Seagate Technology’s dividend payout ratio is currently -80.00%.

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.