3,164 Shares in Seagate Technology Holdings plc (NASDAQ:STX) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,164 shares of the data storage provider’s stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the last quarter. Family Firm Inc. bought a new position in shares of Seagate Technology in the second quarter worth about $41,000. Larson Financial Group LLC boosted its stake in shares of 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 in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $47,000. Finally, Richardson Financial Services Inc. acquired a new position in Seagate Technology during the 4th quarter worth approximately $47,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STX has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, July 24th. Rosenblatt Securities increased their target price on Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald boosted their price target on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, StockNews.com lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $115.94.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $106.63 on Wednesday. The stock’s 50-day moving average is $101.05 and its 200 day moving average is $96.73. Seagate Technology Holdings plc has a one year low of $63.32 and a one year high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted ($0.29) EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. 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. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.70 per share. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.63%. Seagate Technology’s dividend payout ratio is -217.05%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 654,270 shares in the company, valued at approximately $61,148,074.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Gianluca Romano sold 25,760 shares of Seagate Technology stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 directly owns 52,620 shares in the company, valued at approximately $4,974,694.80. The disclosure for this sale can be found here. Insiders have sold 56,627 shares of company stock valued at $5,489,495 over the last ninety days. 0.89% of the stock is owned by company insiders.

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.