Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Inlet Private Wealth LLC

Inlet Private Wealth LLC cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 21.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,525 shares of the data storage provider’s stock after selling 18,010 shares during the quarter. Seagate Technology comprises 1.9% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 13th biggest position. Inlet Private Wealth LLC’s holdings in Seagate Technology were worth $7,396,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Seagate Technology during the 2nd quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC grew its stake 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 buying an additional 337 shares during the period. Family Firm Inc. purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at approximately $41,000. Larson Financial Group LLC lifted its holdings in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after acquiring an additional 473 shares during the last quarter. Finally, Viking Fund Management LLC grew its position in Seagate Technology by 722.2% in the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock worth $69,000 after acquiring an additional 650 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the transaction, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, 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 value of $1,869,200.00. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now owns 5,387 shares in the company, valued at $592,570. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 223,284 shares of company stock valued at $23,800,887. 0.81% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

STX has been the subject of several research analyst reports. Citigroup increased their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday. Susquehanna raised their price target on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird lifted their target price on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $115.94.

Seagate Technology Stock Up 1.4 %

NASDAQ:STX traded up $1.53 during midday trading on Thursday, reaching $113.26. The stock had a trading volume of 651,478 shares, compared to its average volume of 2,481,231. The stock has a market cap of $23.84 billion, a P/E ratio of 72.55 and a beta of 1.04. The firm has a fifty day simple moving average of $103.64 and a two-hundred day simple moving average of $98.86. Seagate Technology Holdings plc has a 12-month low of $64.12 and a 12-month high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. During the same quarter in the previous year, the company earned ($0.29) EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 23rd were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.47%. The ex-dividend date was Monday, September 23rd. Seagate Technology’s payout ratio is currently 181.82%.

About Seagate Technology

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.