Veracity Capital LLC Cuts Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Veracity Capital LLC decreased its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 5.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,158 shares of the data storage provider’s stock after selling 189 shares during the quarter. Veracity Capital LLC’s holdings in Seagate Technology were worth $273,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of STX. Point72 Asset Management L.P. acquired a new position in Seagate Technology in the 3rd quarter worth $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after acquiring an additional 1,012,638 shares in the last quarter. State Street Corp boosted its holdings in Seagate Technology by 6.8% in the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after purchasing an additional 541,585 shares during the last quarter. Franklin Resources Inc. increased its holdings in Seagate Technology by 29.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock worth $197,844,000 after purchasing an additional 405,232 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after purchasing an additional 318,416 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the company’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 in the company, valued at $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now directly owns 642,497 shares of the company’s stock, valued at approximately $63,947,726.41. The trade was a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,073 shares of company stock worth $5,106,149. 0.81% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STX has been the subject of a number of recent analyst reports. Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday. Summit Insights raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Wednesday. Susquehanna increased their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a research report on Wednesday. UBS Group lifted their price target on Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Evercore ISI upped their price objective on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and an average price target of $122.56.

Seagate Technology Stock Down 0.2 %

STX stock opened at $108.19 on Friday. The firm’s 50-day simple moving average is $95.00 and its 200 day simple moving average is $100.42. The stock has a market cap of $22.89 billion, a PE ratio of 19.78 and a beta of 1.06. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

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 63.48% and a net margin of 14.67%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. Equities analysts forecast that Seagate Technology Holdings plc will post 6.92 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

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.