Foster & Motley Inc. Has $1.28 Million Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Foster & Motley Inc. lowered its position in Seagate Technology Holdings plc (NASDAQ:STX) by 19.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,037 shares of the data storage provider’s stock after selling 3,704 shares during the quarter. Foster & Motley Inc.’s holdings in Seagate Technology were worth $1,284,000 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 the company. JPMorgan Chase & Co. lifted its position in shares of Seagate Technology by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after buying an additional 1,485,937 shares during the last quarter. FMR LLC grew its holdings in Seagate Technology by 13.1% during the third quarter. FMR LLC now owns 13,929,708 shares of the data storage provider’s stock valued at $918,664,000 after purchasing an additional 1,612,264 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 127,214 shares during the period. Invesco Ltd. lifted its stake in shares of Seagate Technology by 0.4% in the third quarter. Invesco Ltd. now owns 2,804,277 shares of the data storage provider’s stock worth $184,942,000 after buying an additional 10,697 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Seagate Technology by 24.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock worth $158,950,000 after acquiring an additional 470,592 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STX. TD Cowen lifted their price objective on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Susquehanna increased their price objective on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Evercore ISI started coverage on shares of Seagate Technology in a research note on Tuesday, February 27th. They set an “outperform” rating and a $110.00 target price for the company. The Goldman Sachs Group increased their target price on shares of Seagate Technology from $65.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, Rosenblatt Securities raised their price objective on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $91.73.

Seagate Technology Trading Up 1.6 %

NASDAQ STX opened at $86.53 on Wednesday. The firm has a market cap of $18.13 billion, a price-to-earnings ratio of -24.72, a PEG ratio of 703.97 and a beta of 1.04. Seagate Technology Holdings plc has a 1-year low of $54.47 and a 1-year high of $101.26. The company has a 50 day moving average of $89.29 and a 200-day moving average of $82.61.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the firm posted ($0.43) EPS. Seagate Technology’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, analysts forecast that Seagate Technology Holdings plc will post 0.1 earnings per share for the current year.

Seagate Technology Announces Dividend

The business 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. This represents a $2.80 annualized dividend and a yield of 3.24%. Seagate Technology’s payout ratio is presently -80.00%.

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.