Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 14.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 23,964 shares of the data storage provider’s stock after selling 4,092 shares during the period. Guggenheim Capital LLC’s holdings in Seagate Technology were worth $2,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of STX. Vanguard Group Inc. increased its position in shares of Seagate Technology by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock valued at $2,414,446,000 after buying an additional 1,814,821 shares in the last quarter. National Pension Service acquired a new position in Seagate Technology during the fourth quarter worth $43,436,000. Los Angeles Capital Management LLC lifted its holdings in Seagate Technology by 176.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider’s stock valued at $64,007,000 after purchasing an additional 473,484 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after purchasing an additional 405,232 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Seagate Technology by 14.6% during the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider’s stock worth $238,348,000 after purchasing an additional 352,300 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the sale, the chief executive officer now owns 555,677 shares of the company’s stock, valued at approximately $46,988,047.12. This represents a 3.47 % 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. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of STX opened at $75.80 on Monday. The firm has a 50-day simple moving average of $86.90 and a two-hundred day simple moving average of $94.54. The stock has a market cap of $16.05 billion, a PE ratio of 13.86 and a beta of 1.21. Seagate Technology Holdings plc has a 1-year low of $63.19 and a 1-year high of $115.32.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend was Wednesday, March 19th. Seagate Technology’s dividend payout ratio is currently 52.65%.

Wall Street Analyst Weigh In

STX has been the topic of several research analyst reports. Mizuho lowered their price objective on Seagate Technology from $115.00 to $95.00 and set an “outperform” rating on the stock in a report on Thursday, April 10th. Susquehanna boosted their price target on Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research report on Wednesday, January 22nd. UBS Group lifted their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Citigroup reduced their target price on shares of Seagate Technology from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Northland Securities restated an “outperform” rating and set a $160.00 price target (up from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $118.78.

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.