Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Hilltop National Bank

Hilltop National Bank lessened its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,910 shares of the data storage provider’s stock after selling 662 shares during the quarter. Hilltop National Bank’s holdings in Seagate Technology were worth $942,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Seagate Technology in the third quarter valued at about $26,000. Quarry LP acquired a new position in shares of Seagate Technology during the second quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Seagate Technology by 2,407.1% in the 2nd 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 last quarter. Advisors Asset Management Inc. grew its position in Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew 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 last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock traded down $1.11 during trading on Friday, hitting $87.58. The stock had a trading volume of 644,055 shares, compared to its average volume of 2,179,252. The company’s 50-day moving average price is $95.55 and its two-hundred day moving average price is $100.77. Seagate Technology Holdings plc has a twelve month low of $79.39 and a twelve month high of $115.32. The stock has a market capitalization of $18.53 billion, a P/E ratio of 22.87 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data 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 company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted ($0.34) EPS. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were given a $0.72 dividend. The ex-dividend date was Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.29%. Seagate Technology’s dividend payout ratio is 75.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on STX shares. Citigroup lifted their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Evercore ISI lifted their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Northland Securities increased their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity at Seagate Technology

In related news, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction that occurred 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 approximately $804,672.90. This represents a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,304 shares of company stock valued at $5,656,238. 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.