Seagate Technology Holdings plc (NASDAQ:STX) Shares Purchased by Cwm LLC (2024)

Posted by Defense World Staff on May 3rd, 2024

Cwm LLC boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,441 shares of the data storage provider’s stock after purchasing an additional 130 shares during the period. Cwm LLC’s holdings in Seagate Technology were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STX. JPMorgan Chase & Co. raised its position in shares of Seagate Technology by 9.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,680,400 shares of the data storage provider’s stock worth $1,166,022,000 after purchasing an additional 1,485,937 shares during the last quarter. FMR LLC raised its holdings in shares of 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 acquiring an additional 1,612,264 shares during the last quarter. Wellington Management Group LLP lifted 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 acquiring an additional 127,214 shares in the last quarter. Invesco Ltd. boosted 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 acquiring an additional 10,697 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Seagate Technology by 24.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,410,163 shares of the data storage provider’s stock worth $158,950,000 after purchasing an additional 470,592 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STX. Robert W. Baird lifted their target price on shares of Seagate Technology from $70.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. TD Cowen increased their price objective on shares of Seagate Technology from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Susquehanna boosted their target price on Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a report on Wednesday, April 10th. Finally, Evercore ISI started coverage on Seagate Technology in a research report on Tuesday, February 27th. They issued an “outperform” rating and a $110.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $94.53.

Read Our Latest Research Report on STX

Seagate Technology Trading Up 0.6 %

Shares of NASDAQ:STX opened at $86.29 on Friday. The business has a 50-day moving average price of $89.19 and a 200 day moving average price of $83.30. Seagate Technology Holdings plc has a 12-month low of $54.47 and a 12-month high of $101.26. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of -66.89, a PEG ratio of 238.26 and a beta of 1.06.

Seagate Technology (NASDAQ:STX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. Seagate Technology’s revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.43) earnings per share. As a group, equities research analysts predict that Seagate Technology Holdings plc will post 0.3 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s payout ratio is -217.05%.

Seagate Technology Company Profile

(Free Report)

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