Toronto Dominion Bank Decreases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Toronto Dominion Bank lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 12.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 104,764 shares of the data storage provider’s stock after selling 15,049 shares during the quarter. Toronto Dominion Bank’s holdings in Seagate Technology were worth $10,819,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of STX. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares in the last quarter. Family Firm Inc. acquired a new stake in Seagate Technology in the second quarter worth about $41,000. ICA Group Wealth Management LLC purchased a new stake in shares of Seagate Technology during the fourth quarter worth about $47,000. Richardson Financial Services Inc. acquired a new position in shares of Seagate Technology during the fourth quarter valued at about $47,000. Finally, Larson Financial Group LLC raised its position in shares of Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the sale, the chief executive officer now owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. The disclosure for this sale can be found here. Insiders have sold a total of 203,284 shares of company stock worth $21,647,287 over the last quarter. 0.89% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on STX shares. Bank of America restated a “buy” rating and issued a $110.00 target price on shares of Seagate Technology in a research note on Wednesday, June 5th. Wells Fargo & Company lifted their target price on Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Robert W. Baird increased their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Morgan Stanley raised their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Mizuho increased their price objective on shares of Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Trading Down 1.8 %

Shares of STX stock opened at $108.74 on Friday. The company has a market capitalization of $22.89 billion, a P/E ratio of -84.29 and a beta of 1.03. Seagate Technology Holdings plc has a 12-month low of $63.88 and a 12-month high of $113.57. The business’s 50 day moving average is $101.37 and its two-hundred day moving average is $97.02.

Seagate Technology (NASDAQ:STX) last released 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. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS. On average, research analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.57%. Seagate Technology’s dividend payout ratio (DPR) is currently -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.