Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,999 shares of the data storage provider’s stock after selling 621 shares during the period. Legacy Capital Group California Inc.’s holdings in Seagate Technology were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new position in Seagate Technology during the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. acquired a new position in shares of Seagate Technology during the second quarter worth about $41,000. Larson Financial Group LLC lifted its holdings in shares of Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after buying an additional 473 shares during the period. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of Seagate Technology in the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the sale, the executive vice president now owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total transaction of $535,920.00. Following the transaction, the executive vice president now owns 9,969 shares in the company, valued at $1,096,590. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares of the company’s stock, valued at $61,148,074.20. 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 quarter, insiders sold 218,398 shares of company stock valued at $23,238,106. 0.89% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group lifted their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Susquehanna lifted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. Wells Fargo & Company increased their target price on Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities upped their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $118.83.

Seagate Technology Price Performance

Seagate Technology stock opened at $103.98 on Friday. Seagate Technology Holdings plc has a fifty-two week low of $64.12 and a fifty-two week high of $115.32. The firm’s 50 day simple moving average is $105.13 and its 200-day simple moving average is $99.58. The company has a market cap of $21.83 billion, a P/E ratio of -80.60 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released 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. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.34) EPS. On average, analysts expect that Seagate Technology Holdings plc will post 7.09 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.77%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s payout ratio is currently -217.05%.

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.