Geneos Wealth Management Inc. Reduces Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Geneos Wealth Management Inc. reduced its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 21.6% during the fourth quarter, Holdings Channel reports. The firm owned 2,739 shares of the data storage provider’s stock after selling 754 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Seagate Technology were worth $234,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in STX. JPMorgan Chase & Co. boosted its position in shares of Seagate Technology by 9.2% during the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after purchasing an additional 1,485,937 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Seagate Technology by 20.5% during the 1st quarter. BlackRock Inc. now owns 15,620,098 shares of the data storage provider’s stock valued at $1,032,801,000 after buying an additional 2,662,098 shares in the last quarter. FMR LLC grew its position in shares of Seagate Technology by 13.1% in the 3rd quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock worth $918,664,000 after buying an additional 1,612,264 shares during the period. State Street Corp increased its stake in shares of Seagate Technology by 9.6% in the 1st quarter. State Street Corp now owns 9,360,341 shares of the data storage provider’s stock worth $625,307,000 after acquiring an additional 819,501 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Seagate Technology by 3.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock valued at $288,960,000 after acquiring an additional 127,214 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Down 4.0 %

NASDAQ STX opened at $85.19 on Monday. The company has a 50-day moving average price of $89.74 and a 200-day moving average price of $81.71. Seagate Technology Holdings plc has a 52 week low of $54.32 and a 52 week high of $101.26. The firm has a market capitalization of $17.85 billion, a P/E ratio of -24.34, a PEG ratio of 1,408.10 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.19. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.56 billion. As a group, equities research analysts anticipate that Seagate Technology Holdings plc will post 0.05 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Wednesday, March 20th. Seagate Technology’s dividend payout ratio is presently -80.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Seagate Technology in a report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $95.00 price objective on shares of Seagate Technology in a research report on Monday, March 4th. Rosenblatt Securities boosted their target price on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Susquehanna lifted their price target on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $86.67.

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.