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

PNC Financial Services Group Inc. decreased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,223 shares of the data storage provider’s stock after selling 269 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Seagate Technology were worth $4,515,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in shares of Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after purchasing an additional 89 shares during the last quarter. CWM LLC grew its holdings in Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after buying an additional 97 shares in the last quarter. Affinity Capital Advisors LLC grew its holdings in Seagate Technology by 1.5% in the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after buying an additional 100 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in Seagate Technology by 3.7% in the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after purchasing an additional 122 shares during the period. Finally, Burney Co. lifted its position in Seagate Technology by 3.3% in the first quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock worth $367,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup upped their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Evercore ISI upped their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Price Performance

Seagate Technology stock opened at $99.62 on Monday. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 26.01 and a beta of 1.05. Seagate Technology Holdings plc has a one year low of $75.64 and a one year high of $115.32. The company’s fifty day moving average price is $104.69 and its two-hundred day moving average price is $101.71.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.34) earnings per share. As a group, sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is currently 73.11%.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the transaction, the executive vice president now owns 9,969 shares in the company, valued at $1,096,590. This trade represents a 32.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jay L. Geldmacher sold 4,100 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $103.30, for a total transaction of $423,530.00. Following the transaction, the director now owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. This represents a 58.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is owned by 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.