Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by CoreCap Advisors LLC

CoreCap Advisors LLC lessened its position in Seagate Technology Holdings plc (NASDAQ:STX) by 93.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 313 shares of the data storage provider’s stock after selling 4,728 shares during the period. CoreCap Advisors LLC’s holdings in Seagate Technology were worth $27,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of STX. Vanguard Group Inc. grew its stake in shares of Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Seagate Technology by 1.0% in the 4th quarter. Sanders Capital LLC now owns 16,530,152 shares of the data storage provider’s stock worth $1,426,717,000 after purchasing an additional 162,561 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Seagate Technology by 56.5% in the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider’s stock worth $1,348,262,000 after purchasing an additional 5,640,443 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Seagate Technology by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider’s stock worth $370,013,000 after purchasing an additional 132,713 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider’s stock worth $238,348,000 after buying an additional 352,300 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of several recent analyst reports. Bank of America decreased their target price 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. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 target price on shares of Seagate Technology in a report on Wednesday, April 30th. UBS Group raised their target price on shares of Seagate Technology from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Finally, Susquehanna raised their target price on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.89.

Seagate Technology Stock Up 2.1%

Seagate Technology stock opened at $107.43 on Friday. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $115.32. The business’s 50-day moving average price is $84.15 and its two-hundred day moving average price is $92.41. The stock has a market cap of $22.80 billion, a PE ratio of 19.64 and a beta of 1.32.

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

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.68%. Seagate Technology’s dividend payout ratio is 41.62%.

Insider Activity

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares in the company, valued at approximately $46,988,047.12. This represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.81% of the company’s stock.

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.