Vanguard Group Inc. Sells 1,182,064 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Vanguard Group Inc. cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,472,012 shares of the data storage provider’s stock after selling 1,182,064 shares during the quarter. Vanguard Group Inc. owned about 11.37% of Seagate Technology worth $1,249,416,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of STX. Ronald Blue Trust Inc. bought a new stake in Seagate Technology in the 2nd quarter worth about $33,000. Eagle Bay Advisors LLC bought a new stake in Seagate Technology in the 2nd quarter worth about $62,000. Quadrant Capital Group LLC grew its stake in shares of Seagate Technology by 22.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 921 shares of the data storage provider’s stock valued at $66,000 after purchasing an additional 171 shares during the period. Wipfli Financial Advisors LLC bought a new stake in shares of Seagate Technology during the 3rd quarter valued at about $74,000. Finally, Lee Financial Co grew its stake in shares of Seagate Technology by 9,233.3% during the 3rd quarter. Lee Financial Co now owns 1,400 shares of the data storage provider’s stock valued at $75,000 after purchasing an additional 1,385 shares during the period. 82.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Rosenblatt Securities boosted their price target on Seagate Technology from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. The Goldman Sachs Group lifted their price objective on Seagate Technology from $61.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 27th. UBS Group lifted their price objective on Seagate Technology from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. Barclays lifted their price objective on Seagate Technology from $70.00 to $75.00 in a research report on Thursday, January 26th. Finally, Northland Securities lifted their price objective on Seagate Technology from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $69.58.

Seagate Technology Stock Performance

NASDAQ:STX opened at $61.75 on Monday. The company has a debt-to-equity ratio of 46.44, a current ratio of 1.13 and a quick ratio of 0.69. Seagate Technology Holdings plc has a 1 year low of $47.47 and a 1 year high of $94.72. The stock’s 50 day simple moving average is $63.96 and its two-hundred day simple moving average is $58.98. The company has a market cap of $12.75 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 52.29 and a beta of 1.07.

Seagate Technology (NASDAQ:STX – Get Rating) last released its quarterly earnings data on Wednesday, January 25th. The data storage provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Seagate Technology had a negative return on equity of 1,031.05% and a net margin of 6.61%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the company posted $2.28 EPS. The company’s revenue was down 39.4% compared to the same quarter last year. As a group, equities analysts anticipate that Seagate Technology Holdings plc will post 0.98 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, March 22nd will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Tuesday, March 21st. Seagate Technology’s dividend payout ratio is currently 99.64%.

Insider Activity

In other news, EVP Jeffrey D. Nygaard sold 36,809 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $69.14, for a total transaction of $2,544,974.26. Following the transaction, the executive vice president now owns 30,360 shares of the company’s stock, valued at approximately $2,099,090.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Seagate Technology Profile

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Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.