Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp trimmed its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 8.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 180,870 shares of the data storage provider’s stock after selling 17,381 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Seagate Technology were worth $15,611,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Sanders Capital LLC raised its holdings in shares of Seagate Technology by 0.9% in the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after purchasing an additional 150,115 shares during the period. State Street Corp raised its holdings in Seagate Technology by 6.8% in the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after buying an additional 541,585 shares during the period. Geode Capital Management LLC lifted its position in Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after buying an additional 318,416 shares in the last quarter. Franklin Resources Inc. grew its stake in Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after buying an additional 405,232 shares during the period. Finally, Duquesne Family Office LLC raised its stake in shares of Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after acquiring an additional 316,295 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

NASDAQ:STX opened at $94.34 on Thursday. The stock has a market cap of $19.96 billion, a price-to-earnings ratio of 24.63 and a beta of 1.06. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The business has a fifty day moving average of $94.75 and a 200-day moving average of $100.40.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the firm posted ($0.34) EPS. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. On average, equities research analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Sunday, December 15th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.05%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, December 13th. Seagate Technology’s dividend payout ratio is 75.20%.

Analysts Set New Price Targets

Several brokerages recently issued reports on STX. Evercore ISI increased their price target on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Northland Securities increased their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Mizuho decreased their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $121.53.

Insider Buying and Selling at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the firm’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 transaction of $76,365.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at approximately $804,672.90. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,304 shares of company stock valued at $5,656,238. 0.81% of the stock is owned by corporate insiders.

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.