Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,993 shares of the data storage provider’s stock after selling 104 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Seagate Technology were worth $218,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Duquesne Family Office LLC grew its position in Seagate Technology by 22.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares during the period. Dimensional Fund Advisors LP grew its holdings in Seagate Technology by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock worth $105,306,000 after acquiring an additional 9,062 shares during the period. Swiss National Bank raised its position in Seagate Technology by 0.5% during the third quarter. Swiss National Bank now owns 592,000 shares of the data storage provider’s stock valued at $64,842,000 after acquiring an additional 2,700 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Seagate Technology by 6.5% in the second quarter. Primecap Management Co. CA now owns 582,295 shares of the data storage provider’s stock valued at $60,134,000 after acquiring an additional 35,545 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Seagate Technology by 2.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 465,428 shares of the data storage provider’s stock worth $50,978,000 after purchasing an additional 10,122 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 0.2 %

STX stock opened at $97.02 on Tuesday. The firm has a 50-day moving average of $105.02 and a two-hundred day moving average of $101.45. Seagate Technology Holdings plc has a 12 month low of $75.52 and a 12 month high of $115.32. The company has a market cap of $20.52 billion, a price-to-earnings ratio of 25.33 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last posted its quarterly 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 firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.34) earnings per share. As a group, equities analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.97%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is currently 73.11%.

Analysts Set New Price Targets

STX has been the subject of several recent research reports. TD Cowen lifted their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their price target on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now owns 668,616 shares of the company’s stock, valued at $73,668,110.88. This represents a 17.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. The trade was a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,820 shares of company stock worth $21,892,856. Insiders own 0.81% of the company’s stock.

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.