Mackenzie Financial Corp Cuts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Mackenzie Financial Corp lowered its position in shares of Seagate Technology Holdings plc (NASDAQ:STXGet Rating) by 4.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,413 shares of the data storage provider’s stock after selling 783 shares during the quarter. Mackenzie Financial Corp’s holdings in Seagate Technology were worth $1,244,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STX. Oakworth Capital Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at about $29,000. Hallmark Capital Management Inc. acquired a new stake in Seagate Technology in the second quarter valued at approximately $32,000. West Branch Capital LLC purchased a new stake in shares of Seagate Technology during the second quarter valued at approximately $35,000. Janiczek Wealth Management LLC lifted its position in shares of Seagate Technology by 286.4% during the second quarter. Janiczek Wealth Management LLC now owns 541 shares of the data storage provider’s stock worth $43,000 after purchasing an additional 401 shares in the last quarter. Finally, CENTRAL TRUST Co purchased a new position in shares of Seagate Technology in the first quarter valued at $54,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Seagate Technology Trading Up 1.3 %

NASDAQ:STX opened at $54.81 on Thursday. Seagate Technology Holdings plc has a 1 year low of $47.47 and a 1 year high of $117.67. The business has a fifty day moving average of $54.66 and a 200-day moving average of $69.14. The company has a debt-to-equity ratio of 46.44, a quick ratio of 0.68 and a current ratio of 1.19. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 22.45 and a beta of 1.09.

Seagate Technology (NASDAQ:STXGet Rating) last announced its earnings results on Wednesday, October 26th. The data storage provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Seagate Technology had a net margin of 10.89% and a return on equity of 716.97%. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company earned $2.27 EPS. The business’s quarterly revenue was down 34.7% on a year-over-year basis. Equities analysts predict that Seagate Technology Holdings plc will post 1.99 earnings per share for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Wednesday, December 21st will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, December 20th. This represents a $2.80 annualized dividend and a yield of 5.11%. Seagate Technology’s payout ratio is 53.85%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Northland Securities decreased their price objective on shares of Seagate Technology from $88.00 to $70.00 in a research report on Thursday, October 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on Seagate Technology from $60.00 to $55.00 in a report on Thursday, October 27th. Robert W. Baird reduced their target price on Seagate Technology from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. TheStreet lowered shares of Seagate Technology from a “b-” rating to a “c” rating in a research note on Wednesday, October 26th. Finally, Mizuho reduced their price objective on shares of Seagate Technology from $75.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.17.

Seagate Technology Company Profile

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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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