Prospera Private Wealth LLC Lowers Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Prospera Private Wealth LLC reduced its position in Seagate Technology Holdings plc (NASDAQ:STX) by 11.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,821 shares of the data storage provider’s stock after selling 367 shares during the period. Prospera Private Wealth LLC’s holdings in Seagate Technology were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its holdings in Seagate Technology by 3.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after buying an additional 89 shares in the last quarter. CWM LLC grew its position in shares of Seagate Technology by 3.0% during the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after buying an additional 97 shares during the last quarter. Affinity Capital Advisors LLC grew its position in shares of Seagate Technology by 1.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock valued at $725,000 after buying an additional 100 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Seagate Technology by 3.7% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock valued at $357,000 after buying an additional 122 shares during the last quarter. Finally, Burney Co. grew its position in shares of Seagate Technology by 3.3% during the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock valued at $367,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on STX shares. The Goldman Sachs Group upped their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Robert W. Baird upped their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Susquehanna upped their price target on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley upped their price target on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Up 0.2 %

STX stock opened at $98.02 on Thursday. Seagate Technology Holdings plc has a 12-month low of $75.52 and a 12-month high of $115.32. The company has a market cap of $20.73 billion, a price-to-earnings ratio of 25.59 and a beta of 1.05. The company has a 50 day moving average of $104.85 and a two-hundred day moving average 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. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company’s revenue was up 49.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) EPS. On average, research analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business 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 represents a $2.88 annualized dividend and a yield of 2.94%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is currently 73.11%.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. The trade was a 32.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock worth $21,892,856 in the last ninety days. 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.