Prospera Private Wealth LLC Trims Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Prospera Private Wealth LLC cut its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 11.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,821 shares of the data storage provider’s stock after selling 367 shares during the quarter. Prospera Private Wealth LLC’s holdings in Seagate Technology were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new position in Seagate Technology during the 2nd quarter valued at about $35,349,000. Duquesne Family Office LLC lifted its stake in shares of Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares during the period. Mizuho Markets Americas LLC bought a new position in shares of Seagate Technology in the 3rd quarter worth approximately $32,598,000. AQR Capital Management LLC lifted its stake in shares of Seagate Technology by 519.1% in the 2nd quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider’s stock worth $33,398,000 after purchasing an additional 271,160 shares during the period. Finally, Liontrust Investment Partners LLP bought a new position in shares of Seagate Technology in the 2nd quarter worth approximately $24,635,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

Shares of STX stock opened at $98.02 on Thursday. The stock’s 50-day moving average is $104.85 and its two-hundred day moving average is $101.59. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 25.59 and a beta of 1.05. Seagate Technology Holdings plc has a 1 year low of $75.52 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.34) earnings per share. As a group, research analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

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

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the firm’s 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 completion of the sale, the director now owns 3,034 shares in the company, valued at $291,567.40. This trade represents a 19.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,820 shares of company stock worth $21,892,856. Company insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STX. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Susquehanna lifted their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Loop Capital lifted their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Barclays lifted their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target 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.