Investment Management Corp of Ontario Sells 700 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Investment Management Corp of Ontario lowered its position in Seagate Technology Holdings plc (NASDAQ:STX) by 10.7% during the 4th quarter, Holdings Channel reports. The fund owned 5,868 shares of the data storage provider’s stock after selling 700 shares during the period. Investment Management Corp of Ontario’s holdings in Seagate Technology were worth $506,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STX. JFS Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares in the last quarter. Human Investing LLC purchased a new stake in Seagate Technology in the fourth quarter worth $48,000. Mizuho Bank Ltd. increased its position in Seagate Technology by 140.0% in the fourth quarter. Mizuho Bank Ltd. now owns 600 shares of the data storage provider’s stock worth $52,000 after buying an additional 350 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of Seagate Technology by 22.7% in the fourth quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider’s stock worth $52,000 after acquiring an additional 112 shares during the period. Finally, S.A. Mason LLC bought a new position in shares of Seagate Technology in the fourth quarter worth $55,000. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares in the company, valued at approximately $46,988,047.12. This represents a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.81% of the stock is owned by insiders.

Seagate Technology Trading Up 6.5%

STX stock opened at $101.95 on Tuesday. The stock has a market capitalization of $21.64 billion, a PE ratio of 18.64 and a beta of 1.32. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $115.32. The stock’s 50 day simple moving average is $83.01 and its 200 day simple moving average is $92.19.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The company’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. On average, research analysts predict that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Wednesday, June 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 2.82%. Seagate Technology’s dividend payout ratio is currently 41.62%.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on Seagate Technology from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 30th. Morgan Stanley decreased their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. StockNews.com downgraded Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, February 28th. UBS Group boosted their price target on Seagate Technology from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Finally, Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $114.89.

Seagate Technology Company 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.