Green Alpha Advisors LLC Decreases Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Green Alpha Advisors LLC trimmed its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 10.4% in the 4th quarter, HoldingsChannel reports. The firm owned 7,123 shares of the data storage provider’s stock after selling 830 shares during the period. Green Alpha Advisors LLC’s holdings in Seagate Technology were worth $615,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its position in shares of Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after buying an additional 89 shares in the last quarter. Affinity Capital Advisors LLC grew its holdings in Seagate Technology by 1.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after acquiring an additional 100 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Seagate Technology by 3.6% in the 3rd quarter. Ballentine Partners LLC now owns 3,671 shares of the data storage provider’s stock valued at $402,000 after purchasing an additional 129 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Seagate Technology by 0.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 28,646 shares of the data storage provider’s stock valued at $2,958,000 after purchasing an additional 183 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of Seagate Technology by 1.8% during the 3rd quarter. QRG Capital Management Inc. now owns 10,330 shares of the data storage provider’s stock worth $1,131,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on STX shares. Wedbush reissued an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities increased their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Mizuho decreased their target price on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday. Citigroup increased their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Evercore ISI raised their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $121.53.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares of the company’s stock, valued at $667,430.10. This trade represents a 10.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares in the company, valued at $804,672.90. This represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,304 shares of company stock worth $5,656,238. Company insiders own 0.81% of the company’s stock.

Seagate Technology Stock Up 0.2 %

NASDAQ STX opened at $88.87 on Monday. The firm has a market cap of $18.80 billion, a P/E ratio of 23.20 and a beta of 1.06. Seagate Technology Holdings plc has a 52-week low of $79.39 and a 52-week high of $115.32. The business’s 50-day moving average price is $95.35 and its 200 day moving average price is $100.64.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the business posted ($0.34) EPS. The company’s revenue was up 49.1% on a year-over-year basis. As a group, analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Sunday, December 15th were given a dividend of $0.72 per share. The ex-dividend date was Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 3.24%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is presently 75.20%.

About Seagate Technology

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.