Vontobel Holding Ltd. Decreases Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Vontobel Holding Ltd. cut its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,258 shares of the data storage provider’s stock after selling 2,448 shares during the quarter. Vontobel Holding Ltd.’s holdings in Seagate Technology were worth $1,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. raised its stake in shares of Seagate Technology by 65.3% in the first quarter. Panagora Asset Management Inc. now owns 11,805 shares of the data storage provider’s stock worth $1,061,000 after purchasing an additional 4,663 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Seagate Technology by 0.6% in the first quarter. Rhumbline Advisers now owns 182,883 shares of the data storage provider’s stock worth $16,441,000 after purchasing an additional 1,037 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Seagate Technology by 4.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,946 shares of the data storage provider’s stock worth $2,422,000 after purchasing an additional 1,237 shares during the last quarter. Sei Investments Co. raised its stake in shares of Seagate Technology by 153.5% in the first quarter. Sei Investments Co. now owns 89,250 shares of the data storage provider’s stock worth $8,059,000 after purchasing an additional 54,038 shares during the last quarter. Finally, Aviva PLC raised its stake in shares of Seagate Technology by 44.3% in the first quarter. Aviva PLC now owns 95,541 shares of the data storage provider’s stock worth $8,589,000 after purchasing an additional 29,329 shares during the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

NASDAQ STX opened at $82.46 on Friday. The stock’s 50 day simple moving average is $89.38 and its 200-day simple moving average 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 announced its quarterly earnings results on Wednesday, January 24th. The data storage provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.19. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 0.1 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors 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 3.40%. The ex-dividend date was Wednesday, March 20th. Seagate Technology’s payout ratio is -80.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. BNP Paribas cut Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective for the company. in a research note on Thursday, January 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $95.00 target price on shares of Seagate Technology in a report on Monday, March 4th. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Wedbush reaffirmed a “neutral” rating and set a $100.00 target price on shares of Seagate Technology in a report on Thursday, January 25th. Finally, Wells Fargo & Company raised their target price on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $86.67.

About Seagate Technology

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.