JPMorgan Chase & Co. Has $2.48 Billion Stake in Seagate Technology Holdings plc (NASDAQ:STX)

JPMorgan Chase & Co. reduced its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 22,651,999 shares of the data storage provider’s stock after selling 396,068 shares during the quarter. JPMorgan Chase & Co. owned about 0.11% of Seagate Technology worth $2,481,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Seagate Technology during the 3rd quarter worth approximately $26,000. Quarry LP bought a new stake in shares of Seagate Technology in the second quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after acquiring an additional 258 shares during the period. Finally, JFS Wealth Advisors LLC raised its holdings in Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 293 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the completion of the sale, the chief executive officer now owns 648,616 shares of the company’s stock, valued at $69,842,970.88. This trade represents a 2.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the transaction, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,304 shares of company stock worth $7,809,838. Company insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of several analyst reports. Citigroup increased their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Northland Securities upped their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $88.40 on Friday. Seagate Technology Holdings plc has a 52 week low of $79.39 and a 52 week high of $115.32. The firm has a market cap of $18.70 billion, a PE ratio of 23.08 and a beta of 1.03. The firm’s fifty day moving average is $99.48 and its 200-day moving average is $101.97.

Seagate Technology (NASDAQ:STX) last announced 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. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned ($0.34) EPS. The business’s quarterly revenue was up 49.1% compared to the same quarter last year. Sell-side analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 3.26%. Seagate Technology’s dividend payout ratio (DPR) is presently 75.20%.

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.