Chevy Chase Trust Holdings LLC Reduces Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Chevy Chase Trust Holdings LLC reduced its position in Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,431 shares of the data storage provider’s stock after selling 8,823 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Seagate Technology worth $5,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. CENTRAL TRUST Co boosted its stake in shares of Seagate Technology by 50.0% in the 3rd quarter. CENTRAL TRUST Co now owns 900 shares of the data storage provider’s stock worth $48,000 after buying an additional 300 shares during the last quarter. Private Trust Co. NA purchased a new position in Seagate Technology during the fourth quarter valued at $55,000. Accurate Wealth Management LLC purchased a new position in Seagate Technology during the fourth quarter valued at $81,000. Ronald Blue Trust Inc. lifted its position in Seagate Technology by 189.0% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,445 shares of the data storage provider’s stock valued at $77,000 after purchasing an additional 945 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Seagate Technology by 970.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,787 shares of the data storage provider’s stock valued at $94,000 after purchasing an additional 1,620 shares in the last quarter. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Seagate Technology from $55.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, January 26th. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, January 26th. Wedbush reissued a “neutral” rating and set a $55.00 price target on shares of Seagate Technology in a report on Friday, April 14th. Evercore ISI decreased their price target on Seagate Technology from $70.00 to $65.00 and set an “inline” rating on the stock in a report on Friday, April 21st. Finally, Susquehanna decreased their price target on Seagate Technology from $35.00 to $32.00 and set a “negative” rating on the stock in a report on Friday, April 21st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $65.76.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $62.26 on Monday. The firm has a market capitalization of $12.86 billion, a price-to-earnings ratio of -74.12 and a beta of 1.09. The stock has a 50 day moving average price of $60.96 and a 200 day moving average price of $59.66. Seagate Technology Holdings plc has a 52-week low of $47.47 and a 52-week high of $88.25.

Seagate Technology (NASDAQ:STX – Get Rating) last issued its quarterly earnings data on Thursday, April 20th. The data storage provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.49). The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.98 billion. Seagate Technology had a negative return on equity of 69.08% and a negative net margin of 1.91%. The business’s quarterly revenue was down 33.6% on a year-over-year basis. During the same period last year, the firm earned $1.65 EPS. Analysts forecast that Seagate Technology Holdings plc will post -0.34 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is -333.33%.

Seagate Technology Company Profile

(Get Rating)

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.