Foster & Motley Inc. Sells 4,482 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Foster & Motley Inc. trimmed its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 40.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,484 shares of the data storage provider’s stock after selling 4,482 shares during the quarter. Foster & Motley Inc.’s holdings in Seagate Technology were worth $670,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Baader Bank Aktiengesellschaft bought a new position in shares of Seagate Technology during the fourth quarter worth approximately $230,000. Bessemer Group Inc. increased its stake in Seagate Technology by 68.7% during the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after acquiring an additional 7,150 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in 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 valued at $24,011,000 after acquiring an additional 6,044 shares in the last quarter. Chapin Davis Inc. lifted its position in shares of Seagate Technology by 210.8% during the 1st quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock valued at $2,713,000 after acquiring an additional 19,773 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Seagate Technology by 1.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock worth $11,620,000 after purchasing an additional 1,419 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on STX shares. Loop Capital upped their price objective on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Barclays increased their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Evercore ISI boosted their price objective on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, July 16th. Rosenblatt Securities raised their target price on Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group boosted their price target on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $115.94.

Insiders Place Their Bets

In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated 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 approximately $291,567.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 10,742 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $100.00, for a total value of $1,074,200.00. Following the sale, the executive vice president now directly owns 5,042 shares of the company’s stock, valued at approximately $504,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,297 shares of company stock worth $7,156,436. 0.89% of the stock is currently owned by insiders.

Seagate Technology Stock Performance

STX stock opened at $97.98 on Friday. The company has a market capitalization of $20.60 billion, a P/E ratio of -75.95 and a beta of 1.04. The company has a fifty day moving average price of $101.57 and a 200-day moving average price of $95.67. Seagate Technology Holdings plc has a 52-week low of $62.43 and a 52-week high of $113.57.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. Seagate Technology’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the company earned ($0.29) EPS. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

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.