Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 29.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 803 shares of the data storage provider’s stock after selling 342 shares during the period. Federated Hermes Inc.’s holdings in Seagate Technology were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of STX. JPMorgan Chase & Co. grew its position in shares of Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock valued at $1,166,022,000 after purchasing an additional 1,485,937 shares during the period. Stratos Wealth Partners LTD. increased its stake in Seagate Technology by 8.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,941 shares of the data storage provider’s stock worth $593,000 after buying an additional 561 shares in the last quarter. Gotham Asset Management LLC increased its stake in Seagate Technology by 51.1% during the 3rd quarter. Gotham Asset Management LLC now owns 86,680 shares of the data storage provider’s stock worth $5,717,000 after buying an additional 29,323 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Seagate Technology by 78.4% during the fourth quarter. SG Americas Securities LLC now owns 38,563 shares of the data storage provider’s stock valued at $3,292,000 after acquiring an additional 16,950 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Seagate Technology by 5.0% in the fourth quarter. Nordea Investment Management AB now owns 13,293 shares of the data storage provider’s stock valued at $1,144,000 after acquiring an additional 630 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

NASDAQ STX opened at $89.85 on Tuesday. The stock has a market capitalization of $18.87 billion, a P/E ratio of -69.65, a PEG ratio of 242.66 and a beta of 1.06. The firm’s 50-day moving average is $89.20 and its two-hundred day moving average is $83.80. Seagate Technology Holdings plc has a 12 month low of $55.11 and a 12 month high of $101.26.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company posted ($0.43) earnings per share. The business’s revenue was down 11.0% compared to the same quarter last year. As a group, analysts anticipate that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The company 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 $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.12%. Seagate Technology’s payout ratio is presently -217.05%.

Analyst Ratings Changes

Several research analysts recently commented on STX shares. Evercore ISI assumed coverage on Seagate Technology in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price objective for the company. UBS Group upped their price objective on shares of Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. 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 research note on Thursday, January 25th. Mizuho restated a “buy” rating and set a $100.00 target price on shares of Seagate Technology in a report on Tuesday, April 9th. Finally, BNP Paribas cut Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price target for the company. in a report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.53.

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.