Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by International Private Wealth Advisors LLC

International Private Wealth Advisors LLC trimmed its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,315 shares of the data storage provider’s stock after selling 110 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Seagate Technology were worth $254,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its stake in Seagate Technology by 157.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 52,612 shares of the data storage provider’s stock worth $4,896,000 after purchasing an additional 32,200 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Seagate Technology by 21.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after purchasing an additional 40,649 shares in the last quarter. SageView Advisory Group LLC increased its holdings in Seagate Technology by 36.1% during the 1st quarter. SageView Advisory Group LLC now owns 5,105 shares of the data storage provider’s stock worth $475,000 after purchasing an additional 1,353 shares during the period. Kingsview Wealth Management LLC acquired a new position in Seagate Technology during the 1st quarter worth approximately $210,000. Finally, Trust Investment Advisors acquired a new position in shares of Seagate Technology during the first quarter worth $224,000. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at $1,096,590. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at $1,096,590. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock worth $21,892,856 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Performance

STX stock traded down $0.42 during midday trading on Thursday, hitting $97.85. 191,159 shares of the stock were exchanged, compared to its average volume of 2,481,432. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of 25.66 and a beta of 1.05. Seagate Technology Holdings plc has a fifty-two week low of $74.06 and a fifty-two week high of $115.32. The stock’s 50-day moving average price is $105.11 and its 200-day moving average price is $101.18.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted ($0.34) earnings per share. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. Research analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.94%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is 73.11%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STX. Citigroup upped their price target on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Morgan Stanley upped their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group boosted their target price on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Barclays upped their target price on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $118.83.

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.