Inlet Private Wealth LLC Has $5.45 Million Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Inlet Private Wealth LLC reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,100 shares of the data storage provider’s stock after selling 4,425 shares during the period. Seagate Technology comprises approximately 1.4% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 22nd largest position. Inlet Private Wealth LLC’s holdings in Seagate Technology were worth $5,446,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in STX. Sequoia Financial Advisors LLC grew its holdings in shares of Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after purchasing an additional 89 shares during the last quarter. Affinity Capital Advisors LLC grew its holdings in Seagate Technology by 1.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after acquiring an additional 100 shares during the last quarter. Berkshire Bank increased its position in Seagate Technology by 2.6% in the 4th quarter. Berkshire Bank now owns 4,118 shares of the data storage provider’s stock valued at $355,000 after acquiring an additional 103 shares during the period. My Legacy Advisors LLC raised its stake in shares of Seagate Technology by 3.9% during the fourth quarter. My Legacy Advisors LLC now owns 3,113 shares of the data storage provider’s stock valued at $294,000 after acquiring an additional 118 shares during the last quarter. Finally, AdvisorNet Financial Inc lifted its holdings in shares of Seagate Technology by 3.7% during the fourth quarter. AdvisorNet Financial Inc now owns 3,377 shares of the data storage provider’s stock worth $291,000 after purchasing an additional 122 shares during the period. 92.87% of the stock is owned by institutional investors.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm’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 30,073 shares of company stock worth $3,115,549 in the last quarter. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Trading Down 2.0 %

STX opened at $96.36 on Friday. Seagate Technology Holdings plc has a 1-year low of $82.31 and a 1-year high of $115.32. The company has a market cap of $20.40 billion, a price-to-earnings ratio of 17.62 and a beta of 1.06. The company’s fifty day moving average price is $95.10 and its two-hundred day moving average price is $100.17.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is 52.65%.

Analyst Ratings Changes

STX has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. UBS Group raised their price objective on Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $120.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. Finally, Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

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.