Seagate Technology Holdings plc (NASDAQ:STX) is Tealwood Asset Management Inc.’s 9th Largest Position

Tealwood Asset Management Inc. lowered its stake in Seagate Technology Holdings plc (NASDAQ:STXFree Report) by 24.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,990 shares of the data storage provider’s stock after selling 9,363 shares during the period. Seagate Technology accounts for 1.2% of Tealwood Asset Management Inc.’s holdings, making the stock its 9th biggest position. Tealwood Asset Management Inc.’s holdings in Seagate Technology were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. RFG Advisory LLC acquired a new stake in shares of Seagate Technology in the first quarter worth $235,000. Park Avenue Securities LLC increased its stake in shares of Seagate Technology by 7.1% in the first quarter. Park Avenue Securities LLC now owns 5,590 shares of the data storage provider’s stock worth $520,000 after acquiring an additional 371 shares during the period. Banque Cantonale Vaudoise increased its stake in shares of Seagate Technology by 16.9% in the first quarter. Banque Cantonale Vaudoise now owns 41,100 shares of the data storage provider’s stock worth $3,824,000 after acquiring an additional 5,932 shares during the period. Czech National Bank increased its stake in shares of Seagate Technology by 0.6% in the first quarter. Czech National Bank now owns 34,283 shares of the data storage provider’s stock worth $3,190,000 after acquiring an additional 211 shares during the period. Finally, GAMMA Investing LLC grew its position in Seagate Technology by 37.5% during the first quarter. GAMMA Investing LLC now owns 931 shares of the data storage provider’s stock valued at $87,000 after buying an additional 254 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 10,742 shares of the business’s 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 transaction, the executive vice president now directly owns 5,042 shares in the company, valued at approximately $504,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP John Christopher Morris sold 5,928 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total value of $592,740.72. Following the transaction, the senior vice president now directly owns 12,185 shares in the company, valued at approximately $1,218,378.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ban Seng Teh sold 10,742 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 37,531 shares of company stock worth $3,592,946 in the last ninety days. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

STX has been the topic of several analyst reports. Wedbush upgraded shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Wednesday, May 1st. Bank of America restated a “buy” rating and set a $110.00 price target on shares of Seagate Technology in a research report on Wednesday, June 5th. Barclays dropped their price target on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Cantor Fitzgerald raised their price target on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Citigroup initiated coverage on shares of Seagate Technology in a research report on Tuesday, May 14th. They set a “buy” rating and a $110.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $98.29.

Read Our Latest Analysis on Seagate Technology

Seagate Technology Price Performance

NASDAQ STX traded up $0.46 during trading hours on Friday, hitting $103.08. 3,420,633 shares of the company’s stock traded hands, compared to its average volume of 2,299,184. Seagate Technology Holdings plc has a 52-week low of $57.32 and a 52-week high of $107.91. The company has a market capitalization of $21.65 billion, a PE ratio of -79.91 and a beta of 1.03. The firm’s 50-day moving average is $93.42 and its 200-day moving average is $89.32.

Seagate Technology (NASDAQ:STXGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion for 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 prior year, the company posted ($0.43) EPS. Equities research analysts predict that Seagate Technology Holdings plc will post 0.44 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 Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 2.72%. Seagate Technology’s payout ratio is -217.05%.

Seagate Technology Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

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