Foster & Motley Inc. Has $528,000 Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Foster & Motley Inc. lowered its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 25.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,822 shares of the data storage provider’s stock after selling 1,662 shares during the quarter. Foster & Motley Inc.’s holdings in Seagate Technology were worth $528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP acquired a new stake in Seagate Technology in the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the last quarter. Family Firm Inc. bought a new position in Seagate Technology during the second quarter worth about $41,000. JFS Wealth Advisors LLC increased its position in Seagate Technology by 232.5% during the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after buying an additional 293 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after buying an additional 473 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Up 2.1 %

NASDAQ:STX opened at $105.11 on Friday. The firm has a market capitalization of $22.23 billion, a PE ratio of 27.44 and a beta of 1.05. Seagate Technology Holdings plc has a twelve month low of $70.41 and a twelve month high of $115.32. The stock’s 50-day simple moving average is $104.95 and its 200 day simple moving average is $100.67.

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 the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for 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%. The firm’s revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) EPS. On average, analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is presently 73.11%.

Insider Buying and Selling at Seagate Technology

In related news, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 192,638 shares of company stock worth $20,924,155. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STX shares. Loop Capital raised their price target on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. TD Cowen lifted their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Citigroup upped their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Evercore ISI upped their target price on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

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.