Tennessee Valley Asset Management Partners Buys Shares of 2,816 Seagate Technology Holdings plc (NASDAQ:STX)

Tennessee Valley Asset Management Partners bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the 4th quarter, HoldingsChannel reports. The fund bought 2,816 shares of the data storage provider’s stock, valued at approximately $240,000.

Several other institutional investors also recently bought and sold shares of STX. BlackRock Inc. lifted its stake in shares of Seagate Technology by 20.5% during the first quarter. BlackRock Inc. now owns 15,620,098 shares of the data storage provider’s stock worth $1,032,801,000 after buying an additional 2,662,098 shares during the period. Norges Bank acquired a new stake in shares of Seagate Technology during the fourth quarter worth $92,189,000. FMR LLC lifted its stake in shares of Seagate Technology by 13.1% during the third 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. JPMorgan Chase & Co. lifted its stake 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 worth $1,166,022,000 after buying an additional 1,485,937 shares during the period. Finally, State Street Corp lifted its stake in shares of Seagate Technology by 16.3% during the third quarter. State Street Corp now owns 8,951,455 shares of the data storage provider’s stock worth $482,736,000 after buying an additional 1,256,349 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on STX shares. Susquehanna lifted their price objective on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research note on Wednesday, April 10th. Robert W. Baird raised their target price on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. BNP Paribas cut shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 target price for the company. in a report on Thursday, January 11th. TD Cowen raised their target price on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Company raised their target price on shares of 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, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.07.

Seagate Technology Stock Down 1.2 %

Shares of NASDAQ STX opened at $82.46 on Monday. The company’s 50-day simple moving average is $89.38 and its 200-day simple moving average is $82.34. 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 cap of $17.28 billion, a price-to-earnings ratio of -23.56, a price-to-earnings-growth ratio of 1,362.98 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.19. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.56 billion. Equities research analysts anticipate that Seagate Technology Holdings plc will post 0.1 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

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.