AE Wealth Management LLC Trims Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

AE Wealth Management LLC lowered its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 54.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 100,984 shares of the data storage provider’s stock after selling 121,527 shares during the period. AE Wealth Management LLC’s holdings in Seagate Technology were worth $10,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in STX. Jump Financial LLC bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $226,000. Level Four Advisory Services LLC bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $255,000. UBS Group AG raised its holdings in shares of Seagate Technology by 29.9% in the fourth quarter. UBS Group AG now owns 495,150 shares of the data storage provider’s stock valued at $42,271,000 after acquiring an additional 113,886 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Seagate Technology in the fourth quarter valued at about $211,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Seagate Technology by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock valued at $86,572,000 after acquiring an additional 460,599 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Up 0.6 %

Shares of NASDAQ STX opened at $104.74 on Friday. Seagate Technology Holdings plc has a 52 week low of $63.32 and a 52 week high of $113.57. The firm has a market cap of $22.05 billion, a P/E ratio of -81.19 and a beta of 1.03. The business’s 50 day moving average price is $101.15 and its 200 day moving average price is $96.54.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the company posted ($0.29) earnings per share. Seagate Technology’s revenue for the quarter was up 17.8% on a year-over-year basis. As a group, research analysts expect that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s payout ratio is presently -217.05%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Cantor Fitzgerald lifted their price objective on Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Mizuho lifted their target price on Seagate Technology from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Northland Securities lifted their target price on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen lifted their target price on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com lowered 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 assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $115.94.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,627 shares of company stock valued at $5,489,495. 0.89% of the stock is owned by company insiders.

Seagate Technology Company 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.