Moody National Bank Trust Division cut its position in shares of Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,486 shares of the data storage provider’s stock after selling 140 shares during the quarter. Moody National Bank Trust Division’s holdings in Seagate Technology were worth $387,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in Seagate Technology during the 3rd quarter worth approximately $26,000. Quarry LP purchased a new stake in Seagate Technology during the second quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 337 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 258 shares during the period. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 293 shares in the last quarter. 92.87% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares in the company, valued at $63,947,726.41. This represents a 3.02 % decrease in their position. The sale 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 the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the sale, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,304 shares of company stock worth $5,656,238 over the last 90 days. 0.81% of the stock is owned by company insiders.
Seagate Technology Stock Performance
Seagate Technology (NASDAQ:STX – Get Free Report) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.34) earnings per share. As a group, research analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.
Seagate Technology Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were given a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is 75.20%.
Analysts Set New Price Targets
Several brokerages recently issued reports on STX. Northland Securities increased their price target on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lowered their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. StockNews.com lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI boosted their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.53.
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.
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