Frisch Financial Group Inc. Lowers Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Frisch Financial Group Inc. cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 8.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,035 shares of the data storage provider’s stock after selling 200 shares during the period. Frisch Financial Group Inc.’s holdings in Seagate Technology were worth $210,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Primecap Management Co. CA lifted its holdings in shares of Seagate Technology by 6.5% during the 2nd quarter. Primecap Management Co. CA now owns 582,295 shares of the data storage provider’s stock valued at $60,134,000 after acquiring an additional 35,545 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Seagate Technology during the 2nd quarter valued at $12,485,000. Dimensional Fund Advisors LP lifted its holdings in shares of Seagate Technology by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after acquiring an additional 9,062 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Seagate Technology by 200.2% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 3,326 shares of the data storage provider’s stock valued at $343,000 after acquiring an additional 2,218 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd acquired a new position in shares of Seagate Technology during the 2nd quarter valued at $2,643,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STX. Wedbush lifted their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Morgan Stanley boosted their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Susquehanna boosted their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a report on Wednesday, July 24th. Robert W. Baird boosted their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Price Performance

Seagate Technology stock opened at $101.44 on Tuesday. The firm has a 50 day simple moving average of $101.40 and a 200-day simple moving average of $96.38. The stock has a market capitalization of $21.30 billion, a PE ratio of -78.64 and a beta of 1.03. Seagate Technology Holdings plc has a 12-month low of $63.32 and a 12-month high of $113.57.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm posted ($0.29) earnings per share. On average, analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.76%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insider Activity at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares in the company, valued at approximately $61,148,074.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The disclosure for this sale can be found here. Insiders sold a total of 56,627 shares of company stock valued at $5,489,495 over the last ninety days. Insiders own 0.89% of the company’s stock.

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.