Seagate Technology Holdings plc (NASDAQ:STX) Stock Position Lifted by Ieq Capital LLC

Ieq Capital LLC boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Get Rating) by 74.6% during the third quarter, HoldingsChannel.com reports. The firm owned 25,439 shares of the data storage provider’s stock after acquiring an additional 10,873 shares during the period. Ieq Capital LLC’s holdings in Seagate Technology were worth $1,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Seagate Technology by 10.8% in the second quarter. JPMorgan Chase & Co. now owns 14,358,118 shares of the data storage provider’s stock worth $1,025,744,000 after acquiring an additional 1,400,931 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Seagate Technology in the second quarter worth approximately $83,163,000. FMR LLC grew its position in Seagate Technology by 14.5% in the second quarter. FMR LLC now owns 8,827,629 shares of the data storage provider’s stock worth $630,645,000 after acquiring an additional 1,118,373 shares in the last quarter. Deutsche Bank AG bought a new stake in Seagate Technology in the second quarter worth approximately $32,456,000. Finally, National Bank of Canada FI grew its position in Seagate Technology by 1,823.8% in the third quarter. National Bank of Canada FI now owns 469,110 shares of the data storage provider’s stock worth $24,959,000 after acquiring an additional 444,725 shares in the last quarter. 82.69% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 1.6 %

Shares of STX stock opened at $62.23 on Wednesday. Seagate Technology Holdings plc has a 52-week low of $47.47 and a 52-week high of $117.03. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 41.28 and a beta of 1.06. The company has a debt-to-equity ratio of 46.44, a quick ratio of 0.68 and a current ratio of 1.19. The firm has a fifty day moving average of $54.27 and a 200-day moving average of $61.62.

Seagate Technology (NASDAQ:STX – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The data storage provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Seagate Technology had a net margin of 10.89% and a return on equity of 716.97%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the company posted $2.27 EPS. The company’s quarterly revenue was down 34.7% compared to the same quarter last year. On average, equities research analysts forecast that Seagate Technology Holdings plc will post 1.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

STX has been the subject of several recent research reports. Wedbush decreased their target price on shares of Seagate Technology from $65.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Seagate Technology from $60.00 to $55.00 in a research note on Thursday, October 27th. The Goldman Sachs Group reduced their price objective on shares of Seagate Technology from $71.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, October 28th. Rosenblatt Securities reduced their price objective on shares of Seagate Technology from $80.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, October 27th. Finally, Credit Suisse Group boosted their price objective on shares of Seagate Technology from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $71.91.

About Seagate Technology

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Seagate Technology Holdings Plc operates as holding company that is engaged in the development, production, and distribution of data storage products and electronic data storage solutions. Its products include hard disk drives, solid state hybrid drives, solid state drives, peripheral component interconnect express cards, serial advanced technology attachment controllers, storage subsystems and computing solutions.