Truist Financial Corp Reduces Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Truist Financial Corp reduced its position in Seagate Technology Holdings plc (NASDAQ:STX) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 33,947 shares of the data storage provider’s stock after selling 176 shares during the period. Truist Financial Corp’s holdings in Seagate Technology were worth $2,898,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in STX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Seagate Technology in the fourth quarter valued at about $26,000. CVA Family Office LLC purchased a new stake in Seagate Technology during the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Seagate Technology during the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its stake in shares of Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 205 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth $43,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on STX shares. TD Cowen upped their price objective on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. The Goldman Sachs Group raised their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Evercore ISI began coverage on Seagate Technology in a research report on Tuesday, February 27th. They set an “outperform” rating and a $110.00 target price on the stock. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Finally, Robert W. Baird increased their price objective on Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.53.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $89.51 on Wednesday. The business has a 50 day moving average price of $89.18 and a 200 day moving average price of $83.96. The company has a market capitalization of $18.80 billion, a P/E ratio of -69.39, a P/E/G ratio of 242.66 and a beta of 1.06. Seagate Technology Holdings plc has a 1 year low of $55.11 and a 1 year 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company earned ($0.43) earnings per share. The firm’s revenue was down 11.0% compared to the same quarter last year. As a group, research analysts expect that Seagate Technology Holdings plc will post 0.3 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is -217.05%.

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.