Green Alpha Advisors LLC Decreases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Green Alpha Advisors LLC reduced its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,953 shares of the data storage provider’s stock after selling 658 shares during the period. Green Alpha Advisors LLC’s holdings in Seagate Technology were worth $871,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after acquiring an additional 746,395 shares during the last quarter. Clearbridge Investments LLC increased its stake in Seagate Technology by 14.5% in the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after purchasing an additional 337,464 shares during the period. Duquesne Family Office LLC increased its stake in Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after purchasing an additional 316,295 shares during the period. Dimensional Fund Advisors LP increased its stake in Seagate Technology by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after purchasing an additional 9,062 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Seagate Technology by 6.2% in the first quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock valued at $64,130,000 after purchasing an additional 40,100 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at $291,567.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total value of $2,153,600.00. Following the completion of the sale, the chief executive officer now owns 648,616 shares in the company, valued at $69,842,970.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now owns 3,034 shares in the company, valued at $291,567.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 223,284 shares of company stock worth $23,800,887. Insiders own 0.89% of the company’s stock.

Seagate Technology Price Performance

STX traded down $1.11 during trading hours on Monday, reaching $106.13. 1,848,663 shares of the stock traded hands, compared to its average volume of 2,515,206. Seagate Technology Holdings plc has a fifty-two week low of $64.12 and a fifty-two week high of $113.57. The company has a market cap of $22.34 billion, a price-to-earnings ratio of -82.27 and a beta of 1.04. The firm’s fifty day simple moving average is $101.69 and its two-hundred day simple moving average is $98.02.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) 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%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the business posted ($0.29) earnings per share. On average, research analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.64%. Seagate Technology’s dividend payout ratio is currently -217.05%.

Analyst Ratings Changes

A number of research firms have commented on STX. Benchmark restated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Robert W. Baird boosted their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Evercore ISI boosted their price target on shares of 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 boosted their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.94.

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.