JPMorgan Chase & Co. Trims Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

JPMorgan Chase & Co. lessened its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,651,999 shares of the data storage provider's stock after selling 396,068 shares during the period. JPMorgan Chase & Co. owned approximately 10.71% of Seagate Technology worth $2,481,074,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of Seagate Technology during the 3rd quarter valued at approximately $26,000. Quarry LP bought a new position in Seagate Technology during the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock valued at $36,000 after acquiring an additional 337 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock worth $44,000 after acquiring an additional 258 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider's stock worth $46,000 after acquiring an additional 293 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares of the company's stock, valued at approximately $63,947,726.41. The trade was a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the firm's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares of the company's stock, valued at $804,672.90. This trade represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,304 shares of company stock valued at $7,809,838. 0.81% of the stock is owned by insiders.

Seagate Technology Stock Down 1.1 %

Shares of STX stock traded down $1.01 during mid-day trading on Friday, hitting $87.39. 1,611,412 shares of the stock were exchanged, compared to its average volume of 2,511,732. Seagate Technology Holdings plc has a 52-week low of $79.39 and a 52-week high of $115.32. The firm has a fifty day moving average of $99.00 and a 200 day moving average of $101.87. The company has a market cap of $18.49 billion, a PE ratio of 22.82 and a beta of 1.03.

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

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.30%. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology's payout ratio is presently 75.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Northland Securities lifted their target price on Seagate Technology from $142.00 to $144.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Wedbush restated an "outperform" rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Citigroup boosted their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Evercore ISI increased their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.83.

About Seagate Technology

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.