Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Lifeworks Advisors LLC

Lifeworks Advisors LLC decreased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 70.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,621 shares of the data storage provider’s stock after selling 15,806 shares during the period. Lifeworks Advisors LLC’s holdings in Seagate Technology were worth $725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after purchasing an additional 746,395 shares during the period. Clearbridge Investments LLC increased its position in Seagate Technology by 14.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after purchasing an additional 337,464 shares during the period. Duquesne Family Office LLC grew its holdings 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 acquiring an additional 316,295 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Seagate Technology by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after acquiring an additional 9,062 shares during the period. Finally, Primecap Management Co. CA grew its holdings in shares of Seagate Technology by 6.5% in the 2nd quarter. Primecap Management Co. CA now owns 582,295 shares of the data storage provider’s stock worth $60,134,000 after acquiring an additional 35,545 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. This represents a 17.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock worth $21,892,856 in the last ninety days. Insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on STX shares. The Goldman Sachs Group upped their price target on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their price target on Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Rosenblatt Securities upped their price target on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Down 0.8 %

Shares of Seagate Technology stock opened at $97.46 on Friday. Seagate Technology Holdings plc has a fifty-two week low of $74.06 and a fifty-two week high of $115.32. The firm has a market cap of $20.62 billion, a PE ratio of 25.45 and a beta of 1.05. The business’s fifty day moving average is $105.11 and its two-hundred day moving average is $101.18.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping 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 in the prior year, the company posted ($0.34) EPS. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. Equities research analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 73.11%.

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.