GAMMA Investing LLC Sells 138 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

GAMMA Investing LLC lessened its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,790 shares of the data storage provider’s stock after selling 138 shares during the quarter. GAMMA Investing LLC’s holdings in Seagate Technology were worth $241,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after acquiring an additional 98,418 shares in the last quarter. Versor Investments LP bought a new position in Seagate Technology in the 3rd quarter valued at $2,146,000. Lighthouse Investment Partners LLC acquired a new position in Seagate Technology in the second quarter worth $499,000. Forte Capital LLC ADV grew its holdings in shares of Seagate Technology by 29.8% during the third quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after purchasing an additional 6,653 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Seagate Technology by 3,549.7% in the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock valued at $22,398,000 after buying an additional 198,890 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the sale, the director now directly owns 6,555 shares in the company, valued at $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,304 shares of company stock valued at $5,656,238. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Trading Up 0.5 %

Shares of Seagate Technology stock opened at $89.60 on Wednesday. The stock’s fifty day simple moving average is $96.01 and its 200 day simple moving average is $100.94. The company has a market capitalization of $18.95 billion, a PE ratio of 23.39 and a beta of 1.06. Seagate Technology Holdings plc has a 12 month low of $79.39 and a 12 month high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business posted ($0.34) EPS. Seagate Technology’s revenue for the quarter was up 49.1% on a year-over-year basis. Analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Sunday, December 15th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.21%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is presently 75.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Northland Securities increased their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

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.