Voya Investment Management LLC Trims Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Voya Investment Management LLC lowered its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,215 shares of the data storage provider's stock after selling 13,176 shares during the quarter. Voya Investment Management LLC's holdings in Seagate Technology were worth $3,816,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of STX. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Seagate Technology by 9.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,834 shares of the data storage provider's stock worth $4,215,000 after purchasing an additional 4,229 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in Seagate Technology by 87.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,578 shares of the data storage provider's stock valued at $740,000 after buying an additional 4,014 shares in the last quarter. Norges Bank acquired a new position in Seagate Technology during the 4th quarter valued at about $25,729,000. Asset Management One Co. Ltd. raised its stake in Seagate Technology by 9.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 84,222 shares of the data storage provider's stock valued at $7,360,000 after buying an additional 7,599 shares during the last quarter. Finally, Rheos Capital Works Inc. boosted its holdings in Seagate Technology by 2.5% in the fourth quarter. Rheos Capital Works Inc. now owns 331,500 shares of the data storage provider's stock worth $28,612,000 after acquiring an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Wall Street Analysts Forecast Growth

STX has been the subject of several research analyst reports. Benchmark raised shares of Seagate Technology from a "hold" rating to a "buy" rating and set a $120.00 price objective for the company in a research report on Wednesday, January 22nd. Wedbush reissued an "outperform" rating and set a $140.00 price objective (down from $150.00) on shares of Seagate Technology in a report on Wednesday, April 30th. Morgan Stanley reduced their target price on Seagate Technology from $133.00 to $129.00 and set an "overweight" rating for the company in a research note on Tuesday, January 21st. Wells Fargo & Company dropped their price target on Seagate Technology from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 30th. Finally, StockNews.com cut Seagate Technology from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and a consensus price target of $114.89.

Seagate Technology Stock Up 0.5 %

Shares of Seagate Technology stock traded up $0.51 on Monday, reaching $93.58. The company's stock had a trading volume of 2,805,684 shares, compared to its average volume of 2,851,612. The stock has a 50-day moving average price of $83.26 and a 200-day moving average price of $92.68. The company has a market capitalization of $19.81 billion, a P/E ratio of 17.11 and a beta of 1.31. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business's revenue was up 30.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.33 earnings per share. Sell-side analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio is currently 41.62%.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares of the company's stock, valued at $46,988,047.12. This represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.81% of the company's stock.

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.