Seagate Technology Holdings plc (NASDAQ:STX) Stock Position Decreased by International Assets Investment Management LLC

International Assets Investment Management LLC cut its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 97.3% in the first quarter, Holdings Channel reports. The firm owned 4,930 shares of the data storage provider’s stock after selling 174,774 shares during the period. International Assets Investment Management LLC’s holdings in Seagate Technology were worth $452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STX. CWM LLC raised its stake in shares of Seagate Technology by 3.9% in the 4th quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after acquiring an additional 130 shares in the last quarter. Valley National Advisers Inc. raised its stake in shares of Seagate Technology by 39.7% in the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 144 shares in the last quarter. Brighton Jones LLC raised its stake in shares of Seagate Technology by 0.8% in the 4th quarter. Brighton Jones LLC now owns 18,754 shares of the data storage provider’s stock valued at $1,601,000 after acquiring an additional 150 shares in the last quarter. Mariner LLC raised its stake in shares of Seagate Technology by 0.6% in the 3rd quarter. Mariner LLC now owns 29,616 shares of the data storage provider’s stock valued at $1,953,000 after acquiring an additional 185 shares in the last quarter. Finally, Capital Investment Advisory Services LLC raised its stake in shares of Seagate Technology by 4.1% in the 4th quarter. Capital Investment Advisory Services LLC now owns 4,655 shares of the data storage provider’s stock valued at $397,000 after acquiring an additional 185 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 analysts have issued reports on the company. Evercore ISI assumed coverage on Seagate Technology in a report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 target price on the stock. Barclays lowered their target price on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Loop Capital raised their target price on Seagate Technology from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Bank of America reaffirmed a “buy” rating and issued a $110.00 target price on shares of Seagate Technology in a report on Wednesday, June 5th. Finally, Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $73.00 to $115.00 in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Hold” and an average price target of $98.29.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the transaction, the executive vice president now owns 15,185 shares in the company, valued at approximately $1,442,575. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the transaction, the executive vice president now owns 15,185 shares in the company, valued at approximately $1,442,575. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Christopher Morris sold 11,158 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,531 shares of company stock worth $3,592,946. 0.89% of the stock is currently owned by insiders.

Seagate Technology Stock Performance

Seagate Technology stock opened at $103.33 on Tuesday. Seagate Technology Holdings plc has a one year low of $57.32 and a one year high of $107.91. The business has a 50 day simple moving average of $93.81 and a 200 day simple moving average of $89.66.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.68 billion. Seagate Technology’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.43) EPS. As a group, sell-side analysts anticipate that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a $2.80 annualized dividend and a yield of 2.71%. Seagate Technology’s payout ratio is -217.05%.

About Seagate Technology

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.