Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by abrdn plc

abrdn plc increased its position in Seagate Technology Holdings plc (NASDAQ:STX) by 78.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,343 shares of the data storage provider’s stock after acquiring an additional 38,938 shares during the period. abrdn plc’s holdings in Seagate Technology were worth $7,542,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of STX. Daiwa Securities Group Inc. boosted its position in shares of Seagate Technology by 37.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 21,524 shares of the data storage provider’s stock valued at $1,838,000 after purchasing an additional 5,881 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Seagate Technology by 8.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,782 shares of the data storage provider’s stock valued at $2,969,000 after acquiring an additional 2,647 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Seagate Technology by 7.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,607 shares of the data storage provider’s stock valued at $41,883,000 after purchasing an additional 35,365 shares during the period. Romano Brothers AND Company raised its position in shares of Seagate Technology by 2.4% in the fourth quarter. Romano Brothers AND Company now owns 23,638 shares of the data storage provider’s stock valued at $2,018,000 after purchasing an additional 550 shares during the period. Finally, Louisiana State Employees Retirement System bought a new position in shares of Seagate Technology in the fourth quarter valued at approximately $1,007,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Robert W. Baird raised their price objective on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Wedbush reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a report on Wednesday. Evercore ISI began coverage on Seagate Technology in a report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price target for the company. Finally, Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology has an average rating of “Hold” and an average target price of $94.53.

Seagate Technology Stock Performance

Shares of STX opened at $86.04 on Friday. The stock has a 50 day simple moving average of $89.25 and a 200 day simple moving average of $82.81. Seagate Technology Holdings plc has a 52-week low of $54.47 and a 52-week high of $101.26. The firm has a market capitalization of $18.03 billion, a PE ratio of -66.70, a P/E/G ratio of 480.77 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the company earned ($0.43) EPS. The company’s revenue was down 11.0% compared to the same quarter last year. Equities research analysts predict that Seagate Technology Holdings plc will post 0.15 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio is currently -217.05%.

Seagate Technology Company 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.