Cwm LLC Lowers Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Cwm LLC decreased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 7.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,077 shares of the data storage provider’s stock after selling 230 shares during the period. Cwm LLC’s holdings in Seagate Technology were worth $337,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STX. Strategic Wealth Partners Ltd. bought a new position in Seagate Technology in the 3rd quarter worth about $3,637,000. Brookstone Capital Management raised its stake in shares of Seagate Technology by 10.9% in the third quarter. Brookstone Capital Management now owns 12,856 shares of the data storage provider’s stock worth $1,408,000 after purchasing an additional 1,268 shares during the last quarter. Affinity Capital Advisors LLC lifted its holdings in shares of Seagate Technology by 1.5% during the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock valued at $725,000 after purchasing an additional 100 shares in the last quarter. Salvus Wealth Management LLC boosted its holdings in shares of Seagate Technology by 12.3% during the 3rd quarter. Salvus Wealth Management LLC now owns 2,993 shares of the data storage provider’s stock valued at $328,000 after acquiring an additional 327 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Seagate Technology by 75.1% during the third quarter. GAMMA Investing LLC now owns 2,928 shares of the data storage provider’s stock valued at $321,000 after purchasing an additional 1,256 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $112.41 on Tuesday. Seagate Technology Holdings plc has a fifty-two week low of $64.12 and a fifty-two week high of $115.32. The company has a market cap of $23.66 billion, a PE ratio of 72.99 and a beta of 1.04. The business has a 50-day simple moving average of $104.63 and a two-hundred day simple moving average of $99.37.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. 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, sell-side analysts predict that Seagate Technology Holdings plc will post 7.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 223,284 shares of company stock valued at $23,800,887. 0.81% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STX shares. Barclays increased their price target on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. UBS Group increased their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald lifted their target price on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Northland Securities boosted their target price on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Evercore ISI increased their target price on Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Company 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.