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

Integrated Wealth Concepts LLC cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 30.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,779 shares of the data storage provider’s stock after selling 1,219 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Seagate Technology were worth $304,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new stake in Seagate Technology during the 2nd quarter worth approximately $255,000. Wealth Enhancement Advisory Services LLC lifted its stake in Seagate Technology by 26.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,612 shares of the data storage provider’s stock worth $1,716,000 after acquiring an additional 3,507 shares in the last quarter. ORG Partners LLC acquired a new position in Seagate Technology in the second quarter worth approximately $84,000. AdvisorNet Financial Inc grew its position in shares of Seagate Technology by 31.2% in the second quarter. AdvisorNet Financial Inc now owns 1,681 shares of the data storage provider’s stock valued at $174,000 after purchasing an additional 400 shares during the last quarter. Finally, SteelPeak Wealth LLC bought a new position in Seagate Technology during the second quarter valued at about $229,000. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the sale, the chief executive officer now directly owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,820 shares of company stock valued at $23,953,746 over the last three months. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on STX shares. Citigroup upped their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Northland Securities increased their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Rosenblatt Securities upped their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Benchmark restated a “hold” rating 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 given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Stock Down 0.8 %

NASDAQ:STX opened at $97.64 on Friday. The stock’s fifty day moving average is $102.80 and its two-hundred day moving average is $102.14. Seagate Technology Holdings plc has a 52 week low of $79.39 and a 52 week high of $115.32. The company has a market capitalization of $20.65 billion, a P/E ratio of 25.49 and a beta of 1.03.

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, beating 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 during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted ($0.34) earnings per share. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is 75.20%.

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.