Comerica Bank Acquires 309 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Comerica Bank boosted its holdings in Seagate Technology Holdings plc (NASDAQ:STXGet Rating) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,894 shares of the data storage provider’s stock after purchasing an additional 309 shares during the period. Comerica Bank’s holdings in Seagate Technology were worth $2,190,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ronald Blue Trust Inc. bought a new position in shares of Seagate Technology during the second quarter valued at about $33,000. Oakworth Capital Inc. bought a new position in shares of Seagate Technology during the second quarter valued at about $29,000. Hallmark Capital Management Inc. bought a new position in shares of Seagate Technology during the second quarter valued at about $32,000. West Branch Capital LLC bought a new position in shares of Seagate Technology during the second quarter valued at about $35,000. Finally, Janiczek Wealth Management LLC raised its stake 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 valued at $43,000 after acquiring an additional 401 shares during the last quarter. 82.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STX. TheStreet downgraded shares of Seagate Technology from a “b-” rating to a “c” rating in a research note on Wednesday, October 26th. UBS Group cut shares of Seagate Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $55.00 in a research report on Thursday, October 27th. The Goldman Sachs Group reduced their price target on shares of Seagate Technology from $71.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, October 28th. Mizuho reduced their price target on shares of Seagate Technology from $75.00 to $62.00 and set a “neutral” rating on the stock in a research report on Thursday, October 27th. Finally, Credit Suisse Group reduced their price target on shares of Seagate Technology from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Seagate Technology currently has a consensus rating of “Hold” and a consensus price target of $70.83.

Seagate Technology Stock Down 0.9 %

STX opened at $58.19 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.68 and a debt-to-equity ratio of 46.44. Seagate Technology Holdings plc has a 1-year low of $47.47 and a 1-year high of $117.03. The company has a market capitalization of $12.01 billion, a PE ratio of 11.19, a PEG ratio of 32.24 and a beta of 1.06. The firm’s 50 day simple moving average is $53.96 and its two-hundred day simple moving average is $61.99.

Seagate Technology (NASDAQ:STXGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The data storage provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). Seagate Technology had a return on equity of 716.97% and a net margin of 10.89%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. The firm’s revenue was down 34.7% on a year-over-year basis. As a group, equities analysts forecast that Seagate Technology Holdings plc will post 1.47 EPS for the current year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 5th. Stockholders of record on Wednesday, December 21st were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, December 20th. This represents a $2.80 annualized dividend and a dividend yield of 4.81%. Seagate Technology’s payout ratio is 53.85%.

Seagate Technology 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.

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

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