Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Lifeworks Advisors LLC

Lifeworks Advisors LLC decreased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 70.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,621 shares of the data storage provider’s stock after selling 15,806 shares during the quarter. Lifeworks Advisors LLC’s holdings in Seagate Technology were worth $725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Seagate Technology during the third quarter worth $26,000. Quarry LP acquired a new stake in shares of Seagate Technology in the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC grew its stake 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 valued at $36,000 after buying an additional 337 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at $41,000. Finally, JFS Wealth Advisors LLC grew its stake in shares of Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after buying an additional 293 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STX. Citigroup lifted their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird lifted their price objective on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Northland Securities lifted their target price on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average target price of $118.83.

Insider Activity

In other news, SVP Kian Fatt Chong sold 9,182 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were 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 19.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 201,820 shares of company stock valued at $21,892,856. Insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $97.46 on Friday. The company has a market capitalization of $20.62 billion, a price-to-earnings ratio of 25.45 and a beta of 1.05. The business has a 50-day moving average of $105.11 and a two-hundred day moving average of $101.18. Seagate Technology Holdings plc has a 1 year low of $74.06 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned ($0.34) EPS. Seagate Technology’s revenue for the quarter was up 49.1% on a year-over-year basis. As a group, equities research analysts expect that Seagate Technology Holdings plc will post 7.35 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued 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 2.96%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s payout ratio is presently 73.11%.

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.