Prospera Financial Services Inc Decreases Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Prospera Financial Services Inc lowered its position in Seagate Technology Holdings plc (NASDAQ:STX) by 27.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,531 shares of the data storage provider’s stock after selling 975 shares during the quarter. Prospera Financial Services Inc’s holdings in Seagate Technology were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Aljian Capital Management LLC purchased a new stake in Seagate Technology during the third quarter valued at about $205,000. Swiss National Bank boosted its holdings in Seagate Technology by 0.5% during the 3rd 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 during the period. Thrivent Financial for Lutherans grew its position in Seagate Technology by 3.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 10,877 shares of the data storage provider’s stock worth $1,191,000 after acquiring an additional 402 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in Seagate Technology by 5.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 25,853 shares of the data storage provider’s stock worth $2,832,000 after purchasing an additional 1,227 shares during the period. Finally, Natixis Advisors LLC lifted its position in Seagate Technology by 6.2% in the third quarter. Natixis Advisors LLC now owns 70,117 shares of the data storage provider’s stock valued at $7,680,000 after purchasing an additional 4,094 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ban Seng Teh sold 4,872 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the sale, the executive vice president now owns 9,969 shares in the company, valued at $1,096,590. This represents a 32.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,820 shares of company stock valued at $21,892,856. Insiders own 0.81% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $101.36 on Tuesday. The company has a 50 day simple moving average of $104.69 and a two-hundred day simple moving average of $101.79. Seagate Technology Holdings plc has a fifty-two week low of $76.30 and a fifty-two week high of $115.32. The company has a market capitalization of $21.44 billion, a price-to-earnings ratio of 26.46 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data 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 business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business earned ($0.34) earnings per share. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. On average, analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is currently 73.11%.

Wall Street Analysts Forecast Growth

STX has been the topic of several analyst reports. Rosenblatt Securities lifted their target price 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 upped their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Evercore ISI upped their price target on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $118.83.

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.