Intellectus Partners LLC Sells 459 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Intellectus Partners LLC lessened its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,496 shares of the data storage provider’s stock after selling 459 shares during the period. Intellectus Partners LLC’s holdings in Seagate Technology were worth $301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Seagate Technology in the fourth quarter valued at $26,000. CVA Family Office LLC bought a new position in shares of Seagate Technology in the 4th quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Seagate Technology in the fourth quarter valued at about $28,000. Parkside Financial Bank & Trust raised its holdings in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 205 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its position in Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Trading Up 0.0 %

Shares of STX stock opened at $86.08 on Tuesday. The stock has a market cap of $18.03 billion, a P/E ratio of -66.73, a price-to-earnings-growth ratio of 238.62 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 stock has a 50 day simple moving average of $89.22 and a 200 day simple moving average of $83.14.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results 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 company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business posted ($0.43) EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. Analysts forecast that Seagate Technology Holdings plc will post 0.3 EPS for the current year.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be paid a $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.25%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays lowered their price target on Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, April 22nd. Wedbush reiterated a “neutral” rating and issued a $100.00 price target on shares of Seagate Technology in a research note on Wednesday, April 24th. BNP Paribas lowered shares of Seagate Technology from a “neutral” rating to an “underperform” rating and set a $65.00 price objective on the stock. in a research note on Thursday, January 11th. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $73.00 to $115.00 in a report on Tuesday, March 26th. Finally, Rosenblatt Securities lifted their price target on Seagate Technology from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and a consensus price target of $94.53.

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.