Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Affinity Wealth Management LLC

Affinity Wealth Management LLC trimmed its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 4.5% during the third quarter, Holdings Channel reports. The institutional investor owned 5,416 shares of the data storage provider’s stock after selling 254 shares during the period. Affinity Wealth Management LLC’s holdings in Seagate Technology were worth $593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC increased its position in Seagate Technology by 4.9% during the fourth quarter. V Square Quantitative Management LLC now owns 4,517 shares of the data storage provider’s stock worth $386,000 after purchasing an additional 213 shares during the last quarter. Integrated Advisors Network LLC raised its position in shares of Seagate Technology by 46.2% in the 4th quarter. Integrated Advisors Network LLC now owns 5,833 shares of the data storage provider’s stock worth $498,000 after buying an additional 1,843 shares during the period. American International Group Inc. boosted its holdings in Seagate Technology by 1.0% in the fourth quarter. American International Group Inc. now owns 95,401 shares of the data storage provider’s stock valued at $8,144,000 after acquiring an additional 958 shares during the last quarter. Richardson Financial Services Inc. purchased a new stake in Seagate Technology during the fourth quarter valued at about $47,000. Finally, Greenwood Capital Associates LLC acquired a new stake in Seagate Technology during the fourth quarter worth about $598,000. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Northland Securities increased their target price on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Robert W. Baird lifted their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Susquehanna increased their price target on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. UBS Group upped 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. Finally, Rosenblatt Securities raised their target price on Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Seagate Technology presently has an average rating of “Hold” and a consensus price target of $115.94.

Seagate Technology Stock Performance

Shares of STX stock traded up $0.35 during trading hours on Monday, hitting $110.16. 400,075 shares of the company were exchanged, compared to its average volume of 2,489,071. The stock has a market capitalization of $23.19 billion, a price-to-earnings ratio of 71.27 and a beta of 1.04. Seagate Technology Holdings plc has a one year low of $64.12 and a one year high of $113.57. The business’s 50-day simple moving average is $102.51 and its two-hundred day simple moving average is $98.48.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) EPS. As a group, analysts anticipate that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.70 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.54%. Seagate Technology’s dividend payout ratio (DPR) is 181.82%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total value of $2,153,600.00. Following the completion of the transaction, the chief executive officer now directly owns 648,616 shares in the company, valued at $69,842,970.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the transaction, the chief executive officer now directly owns 648,616 shares of the company’s stock, valued at $69,842,970.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 223,284 shares of company stock worth $23,800,887. 0.81% of the stock is currently owned by insiders.

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.