Old Port Advisors Sells 505 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Old Port Advisors lowered its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.4% in the third quarter, Holdings Channel reports. The firm owned 36,132 shares of the data storage provider’s stock after selling 505 shares during the period. Seagate Technology comprises about 1.1% of Old Port Advisors’ holdings, making the stock its 19th biggest position. Old Port Advisors’ holdings in Seagate Technology were worth $3,958,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its stake in shares of Seagate Technology by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after purchasing an additional 89 shares during the period. CWM LLC increased its position in Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after buying an additional 97 shares during the period. Affinity Capital Advisors LLC lifted its holdings in shares of Seagate Technology by 1.5% during the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after buying an additional 100 shares during the last quarter. Csenge Advisory Group boosted its position in shares of Seagate Technology by 1.4% in the first quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock valued at $788,000 after acquiring an additional 119 shares during the period. Finally, Kingswood Wealth Advisors LLC grew its stake in shares of Seagate Technology by 3.7% in the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insiders Place Their Bets

In other news, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now owns 7,191 shares of the company’s stock, valued at $804,672.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,398 shares of company stock valued at $23,238,106. 0.89% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Down 1.6 %

Shares of Seagate Technology stock opened at $101.32 on Tuesday. The stock has a market capitalization of $21.28 billion, a P/E ratio of -78.54 and a beta of 1.04. Seagate Technology Holdings plc has a 12-month low of $66.93 and a 12-month high of $115.32. The company has a 50-day simple moving average of $105.16 and a 200 day simple moving average of $99.83.

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

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.84%. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is -223.26%.

Wall Street Analysts Forecast Growth

STX has been the subject of several research analyst reports. Barclays upped their target price on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. TD Cowen increased their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. UBS Group lifted their target price on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Wells Fargo & Company upped their price target on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Robert W. Baird lifted their price objective on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average target price 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.