Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Brookstone Capital Management

Brookstone Capital Management cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 66.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,679 shares of the data storage provider’s stock after selling 23,072 shares during the period. Brookstone Capital Management’s holdings in Seagate Technology were worth $1,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STX. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $26,000. CVA Family Office LLC purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $28,000. Northwest Financial Advisors purchased a new stake in shares of Seagate Technology in the 4th quarter valued at approximately $31,000. Finally, Valley National Advisers Inc. lifted its position in shares of Seagate Technology by 39.7% in the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after acquiring an additional 144 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the transaction, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at approximately $1,442,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP John Christopher Morris sold 5,928 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $99.99, for a total transaction of $592,740.72. Following the completion of the transaction, the senior vice president now directly owns 12,185 shares of the company’s stock, valued at approximately $1,218,378.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the transaction, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The disclosure for this sale can be found here. Insiders sold a total of 37,531 shares of company stock valued at $3,592,946 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on STX. Cantor Fitzgerald upped their price objective on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group upped their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. UBS Group increased their price target on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Wedbush upgraded shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Wednesday, May 1st. Finally, Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology currently has an average rating of “Hold” and a consensus target price of $98.29.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $103.27 on Friday. Seagate Technology Holdings plc has a fifty-two week low of $57.32 and a fifty-two week high of $107.91. The firm has a fifty day moving average price of $95.41 and a two-hundred day moving average price of $90.22. The company has a market cap of $21.69 billion, a PE ratio of -80.05 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned ($0.43) earnings per share. Seagate Technology’s revenue for the quarter was down 11.0% on a year-over-year basis. Analysts expect that Seagate Technology Holdings plc will post 0.44 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, June 20th. Seagate Technology’s dividend payout ratio (DPR) is presently -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.