Central Asset Investments & Management Holdings HK Ltd Lowers Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Central Asset Investments & Management Holdings HK Ltd lessened its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 83.5% during the 3rd quarter, Holdings Channel reports. The fund owned 7,056 shares of the data storage provider’s stock after selling 35,693 shares during the period. Seagate Technology comprises approximately 0.8% of Central Asset Investments & Management Holdings HK Ltd’s holdings, making the stock its 20th largest position. Central Asset Investments & Management Holdings HK Ltd’s holdings in Seagate Technology were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Bessemer Group Inc. increased its position in shares of Seagate Technology by 68.7% during the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after purchasing an additional 7,150 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Seagate Technology by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after buying an additional 6,044 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Seagate Technology by 21.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after acquiring an additional 40,649 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Seagate Technology during the third quarter worth about $2,146,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Seagate Technology during the second quarter valued at about $499,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $96.79 on Friday. The firm has a fifty day moving average of $105.02 and a 200 day moving average of $101.23. The firm has a market cap of $20.47 billion, a PE ratio of 25.27 and a beta of 1.05. Seagate Technology Holdings plc has a one year low of $74.33 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.34) earnings per share. On average, equities analysts predict that Seagate Technology Holdings plc will post 7.35 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Susquehanna upped their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. Barclays raised their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Northland Securities boosted their price target on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The trade was a 19.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 4,872 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at $1,096,590. This trade represents a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock valued at $21,892,856 over the last ninety days. Insiders own 0.81% of the company’s stock.

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.