Caprock Group LLC Reduces Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Caprock Group LLC reduced its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 5.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,153 shares of the data storage provider’s stock after selling 1,080 shares during the period. Caprock Group LLC’s holdings in Seagate Technology were worth $2,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in STX. Ashton Thomas Securities LLC purchased a new position in shares of Seagate Technology in the 3rd quarter worth $26,000. Quarry LP purchased a new position in shares of Seagate Technology during the 2nd quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. purchased a new position in shares of Seagate Technology during the 2nd quarter worth about $41,000. Finally, JFS Wealth Advisors LLC boosted its stake 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 worth $46,000 after purchasing an additional 293 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STX. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities lifted their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. UBS Group boosted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Citigroup boosted their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Stock Up 0.2 %

NASDAQ STX opened at $98.02 on Thursday. The firm has a market cap of $20.73 billion, a PE ratio of 25.59 and a beta of 1.05. The company has a 50 day moving average price of $104.85 and a 200 day moving average price of $101.59. Seagate Technology Holdings plc has a 52 week low of $75.52 and a 52 week high of $115.32.

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

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is currently 73.11%.

Insiders Place Their Bets

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the sale, the chief executive officer now directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. This represents a 17.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,820 shares of company stock valued at $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.