SVB Wealth LLC Sells 435 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

SVB Wealth LLC decreased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,286 shares of the data storage provider’s stock after selling 435 shares during the period. SVB Wealth LLC’s holdings in Seagate Technology were worth $451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. raised its position 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 acquiring an additional 2,662,098 shares in the last quarter. Norges Bank bought a new position in shares of Seagate Technology in the 4th quarter worth approximately $92,189,000. FMR LLC raised 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 acquiring an additional 1,612,264 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 acquiring an additional 1,485,937 shares in the last quarter. Finally, State Street Corp raised its position in shares of Seagate Technology by 16.3% in the 3rd quarter. State Street Corp now owns 8,951,455 shares of the data storage provider’s stock worth $482,736,000 after acquiring an additional 1,256,349 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the topic of several recent research reports. The Goldman Sachs Group upped their price target on Seagate Technology from $65.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Robert W. Baird upped their price target on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Wedbush restated a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a research note on Thursday, January 25th. Morgan Stanley upgraded 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. Finally, TD Cowen upped their price target on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $86.67.

Seagate Technology Price Performance

NASDAQ STX opened at $82.46 on Friday. The business’s fifty day moving average price is $89.38 and its 200-day moving average price is $82.10. Seagate Technology Holdings plc has a 1-year low of $54.32 and a 1-year high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.19. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.56 billion. Research analysts anticipate that Seagate Technology Holdings plc will post 0.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. Seagate Technology’s payout ratio is -80.00%.

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.