Cerity Partners LLC Trims Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Cerity Partners LLC cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,909 shares of the data storage provider’s stock after selling 1,214 shares during the quarter. Cerity Partners LLC’s holdings in Seagate Technology were worth $4,004,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Seagate Technology by 9.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after purchasing an additional 1,485,937 shares during the period. BlackRock Inc. raised its holdings in shares of Seagate Technology by 20.5% in the 1st quarter. BlackRock Inc. now owns 15,620,098 shares of the data storage provider’s stock worth $1,032,801,000 after purchasing an additional 2,662,098 shares during the period. FMR LLC raised its holdings 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 purchasing an additional 1,612,264 shares during the period. State Street Corp raised its holdings 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 purchasing an additional 819,501 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Seagate Technology by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider’s stock worth $288,960,000 after purchasing an additional 127,214 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $84.20 on Thursday. Seagate Technology Holdings plc has a 12-month low of $54.32 and a 12-month high of $101.26. The stock’s 50 day simple moving average is $89.61 and its 200 day simple moving average is $81.98.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.19. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.56 billion. Sell-side analysts expect that Seagate Technology Holdings plc will post 0.05 earnings per share for the current year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, March 20th. Seagate Technology’s payout ratio is currently -80.00%.

Wall Street Analysts Forecast Growth

STX has been the topic of a number of research reports. Robert W. Baird raised their price objective on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. The Goldman Sachs Group increased their target price on Seagate Technology from $65.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. BNP Paribas lowered Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a research note on Thursday, January 11th. Finally, Rosenblatt Securities increased their target price on Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology has an average rating of “Hold” and an average price target of $86.67.

Seagate Technology 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.