Forsta AP Fonden Lowers Position in Seagate Technology Holdings plc (NASDAQ:STX)

Forsta AP Fonden reduced its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 8.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,800 shares of the data storage provider’s stock after selling 3,900 shares during the quarter. Forsta AP Fonden’s holdings in Seagate Technology were worth $4,213,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Family Firm Inc. bought a new position in Seagate Technology in the 2nd quarter valued at $41,000. ICA Group Wealth Management LLC bought a new position in Seagate Technology in the 4th quarter valued at $47,000. Richardson Financial Services Inc. bought a new position in Seagate Technology in the 4th quarter valued at $47,000. Larson Financial Group LLC grew its stake in 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 purchasing an additional 473 shares during the period. Finally, Viking Fund Management LLC grew its stake in Seagate Technology by 722.2% in the 1st quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock valued at $69,000 after purchasing an additional 650 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Up 1.5 %

NASDAQ:STX opened at $102.13 on Friday. The business’s 50-day moving average price is $101.44 and its two-hundred day moving average price is $96.29. Seagate Technology Holdings plc has a twelve month low of $63.22 and a twelve month high of $113.57. The stock has a market cap of $21.50 billion, a P/E ratio of -79.17 and a beta of 1.03.

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 analysts’ expectations of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. Seagate Technology’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.29) EPS. On average, equities research analysts expect that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.74%. Seagate Technology’s dividend payout ratio is -217.05%.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Gianluca Romano sold 25,760 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the transaction, the chief financial officer now owns 52,620 shares in the company, valued at $4,974,694.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,627 shares of company stock valued at $5,489,495. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STX. Wedbush increased their price target on Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Mizuho increased their price target on Seagate Technology from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Evercore ISI increased their price target on Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald increased their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company increased their price target on Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $115.94.

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.