Linden Thomas Advisory Services LLC Sells 356 Shares of Seagate Technology Holdings PLC $STX

Linden Thomas Advisory Services LLC cut its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 14.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,046 shares of the data storage provider’s stock after selling 356 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Seagate Technology were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STX. JPMorgan Chase & Co. increased its stake in shares of Seagate Technology by 12.9% in the first quarter. JPMorgan Chase & Co. now owns 18,920,792 shares of the data storage provider’s stock valued at $1,607,321,000 after buying an additional 2,161,191 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Seagate Technology by 3,339.4% in the first quarter. Wellington Management Group LLP now owns 933,996 shares of the data storage provider’s stock valued at $79,343,000 after buying an additional 906,840 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Seagate Technology by 2.7% in the first quarter. Vanguard Group Inc. now owns 28,743,126 shares of the data storage provider’s stock valued at $2,441,729,000 after buying an additional 769,009 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Seagate Technology in the second quarter valued at $45,955,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Seagate Technology in the first quarter valued at $17,546,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on STX shares. Robert W. Baird lifted their price objective on Seagate Technology from $120.00 to $188.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Morgan Stanley lifted their price objective on Seagate Technology from $168.00 to $265.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Rosenblatt Securities lifted their price objective on Seagate Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Cantor Fitzgerald lifted their price objective on Seagate Technology from $175.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Finally, Sanford C. Bernstein lifted their price objective on Seagate Technology from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $234.65.

Seagate Technology Trading Down 1.6%

Seagate Technology stock opened at $230.32 on Tuesday. Seagate Technology Holdings PLC has a 1 year low of $63.19 and a 1 year high of $264.83. The firm has a market capitalization of $49.05 billion, a P/E ratio of 34.02, a PEG ratio of 1.03 and a beta of 1.63. The business has a 50-day moving average of $206.12 and a 200-day moving average of $152.38.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 29th. The data storage provider reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.14. Seagate Technology had a negative return on equity of 169.60% and a net margin of 16.15%.The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the business posted $1.05 EPS. Seagate Technology’s revenue for the quarter was up 29.5% on a year-over-year basis. Research analysts anticipate that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Jay L. Geldmacher sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $150.50, for a total value of $376,250.00. Following the sale, the director owned 352 shares in the company, valued at approximately $52,976. The trade was a 87.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Ci Lee sold 1,116 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $153.36, for a total value of $171,149.76. Following the completion of the sale, the insider owned 257 shares in the company, valued at $39,413.52. The trade was a 81.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,620 shares of company stock worth $14,464,056. Corporate insiders own 0.79% of the company’s stock.

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.