Seagate Technology Holdings plc (NASDAQ:STX) Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,575 shares of the data storage provider’s stock after selling 301 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Seagate Technology were worth $817,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Seagate Technology during the fourth quarter valued at $15,341,000. Valley National Advisers Inc. boosted its holdings in shares of Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 144 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Seagate Technology by 12.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,950 shares of the data storage provider’s stock valued at $6,057,000 after acquiring an additional 7,771 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Seagate Technology by 8.8% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock valued at $593,000 after acquiring an additional 561 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Seagate Technology by 31.3% during the fourth quarter. Allworth Financial LP now owns 1,957 shares of the data storage provider’s stock valued at $167,000 after acquiring an additional 466 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on STX shares. Evercore ISI started coverage on shares of Seagate Technology in a report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price objective for the company. Robert W. Baird upped their price objective 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. UBS Group upped their price objective on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Seagate Technology has a consensus rating of “Hold” and a consensus target price of $94.53.

Seagate Technology Trading Up 0.7 %

NASDAQ STX opened at $87.11 on Thursday. The stock’s 50-day moving average price is $89.30 and its two-hundred day moving average price is $82.64. The company has a market cap of $18.25 billion, a PE ratio of -24.89, a PEG ratio of 703.97 and a beta of 1.04. Seagate Technology Holdings plc has a 1 year low of $54.47 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. Seagate Technology’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) EPS. Research analysts forecast that Seagate Technology Holdings plc will post 0.1 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.21%. Seagate Technology’s dividend 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.