Seagate Technology Holdings plc (NASDAQ:STX) Stock Position Decreased by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 101,898 shares of the data storage provider’s stock after selling 5,247 shares during the period. Handelsbanken Fonder AB’s holdings in Seagate Technology were worth $11,161,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Quarry LP bought a new position in shares of Seagate Technology during the 2nd quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings 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 purchasing an additional 337 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Seagate Technology during the second quarter valued at approximately $41,000. Richardson Financial Services Inc. acquired a new position in shares of Seagate Technology in the fourth quarter valued at $47,000. Finally, Larson Financial Group LLC lifted its position 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 worth $49,000 after purchasing an additional 473 shares during the period. Institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on STX shares. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, July 24th. Rosenblatt Securities lifted their price objective on Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Robert W. Baird increased their target price on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Loop Capital boosted their price target on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Trading Down 1.0 %

Shares of NASDAQ:STX opened at $106.13 on Tuesday. The stock has a market capitalization of $22.34 billion, a P/E ratio of -82.27 and a beta of 1.04. Seagate Technology Holdings plc has a 1-year low of $64.12 and a 1-year high of $113.57. The business has a 50-day moving average price of $101.69 and a two-hundred day moving average price of $98.02.

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 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 business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted ($0.29) earnings per share. Seagate Technology’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts predict that Seagate Technology Holdings plc will post 6.72 EPS for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 23rd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.64%. Seagate Technology’s payout ratio is currently -217.05%.

Insider Activity

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $592,570. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Ban Seng Teh sold 10,117 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares of the company’s stock, valued at $592,570. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total value of $2,153,600.00. Following the completion of the transaction, the chief executive officer now owns 648,616 shares of the company’s stock, valued at $69,842,970.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 223,284 shares of company stock valued at $23,800,887 in the last ninety days. 0.89% of the stock is owned by insiders.

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.