Seagate Technology Holdings plc (NASDAQ:STX) Holdings Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 40,610 shares of the data storage provider’s stock after selling 336 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Seagate Technology were worth $3,467,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of STX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in Seagate Technology during the 4th quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology in the fourth quarter valued at $28,000. Parkside Financial Bank & Trust boosted its position in shares of Seagate Technology by 85.4% in the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after buying an additional 205 shares during the period. Finally, Northwest Financial Advisors acquired a new position in Seagate Technology during the fourth quarter valued at $31,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on STX shares. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. UBS Group increased their price objective on Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Bank of America reaffirmed a “buy” rating and issued a $110.00 target price on shares of Seagate Technology in a research report on Wednesday, June 5th. Susquehanna lifted their price target on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a report on Wednesday, April 10th. Finally, Loop Capital increased their price objective on Seagate Technology from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.29.

Insider Activity

In other news, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the transaction, the senior vice president now owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Ban Seng Teh sold 10,742 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total transaction of $1,074,200.00. Following the sale, the executive vice president now owns 5,042 shares of the company’s stock, valued at approximately $504,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Christopher Morris sold 11,158 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,531 shares of company stock valued at $3,592,946. 0.89% of the stock is currently owned by insiders.

Seagate Technology Price Performance

Shares of STX opened at $105.99 on Thursday. Seagate Technology Holdings plc has a one year low of $57.32 and a one year high of $107.91. The business’s 50 day simple moving average is $92.79 and its 200-day simple moving average is $89.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The business’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.43) EPS. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.64%. Seagate Technology’s payout ratio is presently -217.05%.

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.