Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,164 shares of the data storage provider’s stock after selling 185 shares during the period. Intellectus Partners LLC’s holdings in Seagate Technology were worth $239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Seagate Technology during the third quarter worth $26,000. Quarry LP purchased a new position in Seagate Technology during the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. purchased a new stake in Seagate Technology in the 2nd quarter valued at approximately $41,000. Finally, JFS Wealth Advisors LLC increased its position in Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX opened at $96.79 on Friday. Seagate Technology Holdings plc has a 1 year low of $74.33 and a 1 year high of $115.32. The company’s 50 day simple moving average is $105.02 and its 200 day simple moving average is $101.23. The stock has a market capitalization of $20.47 billion, a PE ratio of 25.27 and a beta of 1.05.

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

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a $0.72 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.98%. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Insiders Place Their Bets

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now owns 668,616 shares of the company’s stock, valued at $73,668,110.88. This trade represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,820 shares of company stock worth $21,892,856 over the last quarter. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STX. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Robert W. Baird raised their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. UBS Group increased their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Barclays upped their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.83.

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.