Swiss National Bank Purchases 18,000 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Swiss National Bank boosted its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,500 shares of the data storage provider's stock after buying an additional 18,000 shares during the quarter. Swiss National Bank owned 0.29% of Seagate Technology worth $52,716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. JPMorgan Chase & Co. grew its holdings in Seagate Technology by 9.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider's stock worth $1,166,022,000 after acquiring an additional 1,485,937 shares in the last quarter. FMR LLC grew its stake in Seagate Technology by 13.1% in the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider's stock worth $918,664,000 after purchasing an additional 1,612,264 shares in the last quarter. Wellington Management Group LLP increased its holdings in Seagate Technology by 3.0% in the third quarter. Wellington Management Group LLP now owns 4,381,497 shares of the data storage provider's stock valued at $288,960,000 after buying an additional 127,214 shares during the last quarter. Invesco Ltd. increased its holdings in Seagate Technology by 0.4% in the third quarter. Invesco Ltd. now owns 2,804,277 shares of the data storage provider's stock valued at $184,942,000 after buying an additional 10,697 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Seagate Technology by 24.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider's stock valued at $158,950,000 after buying an additional 470,592 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on STX. The Goldman Sachs Group boosted their price target on Seagate Technology from $84.00 to $96.00 and gave the company a "neutral" rating in a report on Wednesday, April 24th. Wedbush upgraded shares of Seagate Technology from a "neutral" rating to an "outperform" rating and set a $100.00 price target on the stock in a research report on Wednesday, May 1st. Benchmark reaffirmed a "hold" rating on shares of Seagate Technology in a report on Wednesday, April 24th. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, January 25th. Finally, TD Cowen raised their target price on shares of Seagate Technology from $85.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $94.53.

Seagate Technology Trading Down 0.4 %

STX stock traded down $0.34 during trading on Tuesday, hitting $89.51. The company had a trading volume of 1,305,880 shares, compared to its average volume of 2,783,406. The firm has a market capitalization of $18.80 billion, a price-to-earnings ratio of -69.39, a P/E/G ratio of 242.66 and a beta of 1.06. The business has a 50 day moving average of $89.18 and a 200 day moving average of $83.96. Seagate Technology Holdings plc has a fifty-two week low of $55.11 and a fifty-two week high of $101.26.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.43) earnings per share. As a group, equities analysts predict that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a $0.70 dividend. 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 3.13%. Seagate Technology's dividend payout ratio 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.