CHURCHILL MANAGEMENT Corp Has $15.61 Million Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

CHURCHILL MANAGEMENT Corp cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,870 shares of the data storage provider's stock after selling 17,381 shares during the quarter. CHURCHILL MANAGEMENT Corp owned about 0.09% of Seagate Technology worth $15,611,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STX. Ashton Thomas Securities LLC bought a new position in Seagate Technology during the third quarter worth $26,000. Quarry LP acquired a new stake in Seagate Technology in the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock worth $36,000 after purchasing an additional 337 shares during the period. Advisors Asset Management Inc. raised its position in shares of Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock valued at $44,000 after buying an additional 258 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its position in shares of Seagate Technology by 232.5% during the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider's stock valued at $46,000 after buying an additional 293 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 642,497 shares in the company, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,304 shares of company stock valued at $5,656,238. Insiders own 0.81% of the company's stock.

Analyst Upgrades and Downgrades

STX has been the topic of a number of recent research reports. Wedbush reissued an "outperform" rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Seagate Technology from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Mizuho lowered their price target on shares of Seagate Technology from $130.00 to $110.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.94.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded up $0.73 during trading on Thursday, reaching $95.07. The stock had a trading volume of 3,820,538 shares, compared to its average volume of 2,831,134. The stock has a market capitalization of $20.11 billion, a PE ratio of 24.82 and a beta of 1.06. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The business's 50-day moving average price is $94.55 and its 200 day moving average price is $100.37.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. The business's revenue was up 49.1% on a year-over-year basis. Analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Sunday, December 15th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, December 13th. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's dividend payout ratio (DPR) is presently 75.20%.

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.