CIBC Asset Management Inc Sells 1,023 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

CIBC Asset Management Inc cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,730 shares of the data storage provider’s stock after selling 1,023 shares during the quarter. CIBC Asset Management Inc’s holdings in Seagate Technology were worth $2,760,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its holdings in Seagate Technology by 39.3% in the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock worth $1,418,413,000 after buying an additional 4,685,454 shares in the last quarter. Norges Bank bought a new stake in Seagate Technology in the 4th quarter worth about $188,834,000. Vanguard Group Inc. increased its holdings in Seagate Technology by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after buying an additional 746,395 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Seagate Technology by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock worth $86,572,000 after buying an additional 460,599 shares in the last quarter. Finally, Mizuho Markets Americas LLC increased its holdings in Seagate Technology by 321.7% in the 4th quarter. Mizuho Markets Americas LLC now owns 586,120 shares of the data storage provider’s stock worth $50,037,000 after buying an additional 447,120 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on STX shares. The Goldman Sachs Group lifted their price objective on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wedbush boosted their price target on Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. TD Cowen boosted their price target on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Loop Capital boosted their price target on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $115.94.

Seagate Technology Trading Up 0.1 %

NASDAQ STX opened at $100.81 on Friday. The stock’s 50 day moving average is $101.64 and its 200 day moving average is $95.63. Seagate Technology Holdings plc has a 12 month low of $62.43 and a 12 month high of $113.57. The stock has a market cap of $21.19 billion, a PE ratio of -78.15 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm earned ($0.29) EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, analysts forecast that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.78%. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insiders Place Their Bets

In other Seagate Technology news, CFO Gianluca Romano sold 25,760 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the sale, the chief financial officer now owns 52,620 shares of the company’s stock, valued at approximately $4,974,694.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Gianluca Romano sold 25,760 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the completion of the sale, the chief financial officer now directly owns 52,620 shares in the company, valued at approximately $4,974,694.80. The disclosure for this sale can be found here. Insiders have sold a total of 73,297 shares of company stock valued at $7,156,436 in the last quarter. 0.89% of the stock is currently owned by insiders.

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.