Prudential Financial Inc. decreased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX – Receive Rating) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,669 shares of the data storage provider’s stock after selling 1,512 shares during the quarter. Prudential Financial Inc. owned approximately 0.08% of Seagate Technology worth $8,828,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the business. Confluence Wealth Services Inc. boosted its holdings in shares of Seagate Technology by 4.6% in the second quarter. Confluence Wealth Services Inc. now owns 2,815 shares of the data storage provider’s stock valued at $232,000 after purchasing an additional 123 shares during the last quarter. OmniStar Financial Group Inc. boosted its holdings in shares of Seagate Technology by 2.4% in the second quarter. OmniStar Financial Group Inc. now owns 5,286 shares of the data storage provider’s stock valued at $377,000 after buying an additional 126 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in shares of Seagate Technology by 18.5% in the second quarter. McIlrath & Eck LLC now owns 840 shares of the data storage provider’s stock valued at $60,000 after buying an additional 131 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Seagate Technology by 22.8% in the second quarter. Quadrant Capital Group LLC now owns 921 shares of the data storage provider’s stock valued at $66,000 after buying an additional 171 shares during the last quarter. Finally, Simmons Bank boosted its holdings in shares of Seagate Technology by 3.7% in the third quarter. Simmons Bank now owns 5,577 shares of the data storage provider’s stock valued at $297,000 after purchasing an additional 198 shares in the last quarter. 82.69% of the shares are currently owned by hedge funds and other institutional investors.
Shares of Seagate Technology fell 3.2%
Shares of NASDAQ:STX opened at $66.76 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.69, and a debt-to-equity ratio of 46.44. The company has a fifty day simple moving average of $55.27 and a 200 day simple moving average of $61.39. The firm has a market cap of $13.78 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 45.04 and a beta of 1.06. Seagate Technology Holdings plc has a 12-month low of $47.47 and a 12-month high of $113.50.
Seagate Technology (NASDAQ:STX – Get Rating ) last posted its quarterly earnings results on Wednesday, January 25th. The data storage provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.83 billion. Seagate Technology had a net margin of 6.61% and a negative return on equity of 1,031.05%. The business’s revenue was down 39.4% compared to the same quarter last year. In the same quarter last year, the firm earned $2.28 earnings per share. On average, equities research analysts expect that Seagate Technology Holdings plc will post 1.27 EPS for the current fiscal year.
Seagate Technology announces dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, March 22nd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 21st. This represents a $2.80 annual dividend and a yield of 4.19%. Seagate Technology’s payout ratio is 99.64%.
The Wall Street analyst weighs in
A number of brokerages have recently commented on STX. UBS Group upped their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Barclays upped their target price on shares of Seagate Technology from $70.00 to $75.00 in a report on Thursday, January 26th. Cowen upped their target price on shares of Seagate Technology from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, January 26th. Credit Suisse Group upped their target price on shares of Seagate Technology from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, January 24th. Finally, Rosenblatt Securities upped their target price on shares of Seagate Technology from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $68.75, according to MarketBeat .
Seagate Technology Profile
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Seagate Technology Holdings Plc operates as a holding company engaged in the development, manufacture and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid-state hybrid drives, solid-state drives, express peripheral connectivity cards, advanced technology serial connectivity controllers, storage subsystems and computing solutions.
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