Seagate Technology Holdings plc (NASDAQ:STX) Position Reduced by Atria Investments Inc

Atria Investments Inc lowered its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 18.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,653 shares of the data storage provider’s stock after selling 1,039 shares during the period. Atria Investments Inc’s holdings in Seagate Technology were worth $510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in Seagate Technology by 68.7% during the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after purchasing an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after buying an additional 6,044 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $499,000. Lazard Asset Management LLC grew its position in shares of Seagate Technology by 6.9% during the 1st quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock valued at $1,266,000 after buying an additional 881 shares during the last quarter. Finally, Forte Capital LLC ADV raised its stake in 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 acquiring an additional 6,653 shares during the period. Institutional investors own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Robert W. Baird lifted their target price 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 restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Barclays increased their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Loop Capital boosted their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Wedbush restated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $98.02 on Thursday. Seagate Technology Holdings plc has a 1 year low of $75.52 and a 1 year high of $115.32. The firm has a market cap of $20.73 billion, a P/E ratio of 25.30 and a beta of 1.05. The stock has a fifty day moving average price of $104.85 and a two-hundred day moving average price of $101.59.

Seagate Technology (NASDAQ:STX) last released its 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 firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned ($0.34) earnings per share. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. On average, research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

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

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. The trade was a 32.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,820 shares of company stock valued at $21,892,856. Corporate 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.