Aigen Investment Management LP Decreases Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Aigen Investment Management LP lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 66.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,201 shares of the data storage provider’s stock after selling 10,133 shares during the quarter. Aigen Investment Management LP’s holdings in Seagate Technology were worth $444,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trexquant Investment LP grew its holdings in Seagate Technology by 77.3% in the fourth quarter. Trexquant Investment LP now owns 36,657 shares of the data storage provider’s stock valued at $3,129,000 after purchasing an additional 15,984 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of Seagate Technology by 5.0% in the 4th quarter. Corient Private Wealth LLC now owns 21,696 shares of the data storage provider’s stock worth $1,852,000 after buying an additional 1,030 shares in the last quarter. Wells Fargo & Company MN grew its stake in Seagate Technology by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,014,075 shares of the data storage provider’s stock valued at $86,572,000 after acquiring an additional 460,599 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in Seagate Technology during the 4th quarter valued at about $211,000. Finally, Blankinship & Foster LLC acquired a new position in Seagate Technology during the fourth quarter worth about $243,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In other news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the transaction, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $93.46 on Friday. The stock has a 50-day simple moving average of $89.41 and a 200-day simple moving average of $85.86. The stock has a market capitalization of $19.63 billion, a P/E ratio of -72.45, a PEG ratio of 193.66 and a beta of 1.06. Seagate Technology Holdings plc has a 1 year low of $57.06 and a 1 year high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. Seagate Technology’s quarterly revenue was down 11.0% compared to the same quarter last year. Analysts predict that Seagate Technology Holdings plc will post 0.4 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio is presently -217.05%.

Wall Street Analysts Forecast Growth

STX has been the topic of several research reports. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $73.00 to $115.00 in a research report on Tuesday, March 26th. Mizuho reissued a “buy” rating and set a $100.00 price target on shares of Seagate Technology in a research report on Tuesday, April 9th. Wells Fargo & Company upped their price objective on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. The Goldman Sachs Group lifted their price objective on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Barclays reduced their target price on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Hold” and an average price target of $95.50.

About Seagate Technology

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.