Algert Global LLC Sells 559 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Algert Global LLC reduced its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 10.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,030 shares of the data storage provider’s stock after selling 559 shares during the period. Algert Global LLC’s holdings in Seagate Technology were worth $434,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of STX. Capital Research Global Investors raised its stake in shares of Seagate Technology by 56.5% in the fourth quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock worth $1,348,262,000 after acquiring an additional 5,640,443 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after buying an additional 1,814,821 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Seagate Technology during the fourth quarter worth approximately $77,341,000. National Pension Service bought a new stake in shares of Seagate Technology during the fourth quarter worth approximately $43,436,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Seagate Technology by 176.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 741,592 shares of the data storage provider’s stock worth $64,007,000 after buying an additional 473,484 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on STX shares. Mizuho dropped their price target on shares of Seagate Technology from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, April 10th. Citigroup decreased their price objective on shares of Seagate Technology from $115.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Susquehanna boosted their price objective on shares of Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a report on Wednesday, January 22nd. Bank of America decreased their price objective on shares of Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, Barclays boosted their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.89.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the transaction, the chief executive officer now directly owns 555,677 shares of the company’s stock, valued at $46,988,047.12. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.81% of the company’s stock.

Seagate Technology Stock Down 0.6%

Shares of STX stock opened at $95.71 on Monday. The company’s fifty day simple moving average is $82.82 and its 200-day simple moving average is $92.19. The firm has a market cap of $20.26 billion, a PE ratio of 17.50 and a beta of 1.32. Seagate Technology Holdings plc has a 12 month low of $63.19 and a 12 month high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, equities analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology’s dividend payout ratio (DPR) is currently 41.62%.

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.