Seagate Technology Holdings plc (NASDAQ:STX) Holdings Lowered by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in Seagate Technology Holdings plc (NASDAQ:STX) by 15.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,290 shares of the data storage provider’s stock after selling 3,050 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Seagate Technology were worth $1,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after acquiring an additional 746,395 shares during the period. Putnam Investments LLC boosted its holdings in shares of Seagate Technology by 124.3% during the fourth quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock worth $58,091,000 after purchasing an additional 377,148 shares during the period. Delta Global Management LP purchased a new position in Seagate Technology during the first quarter valued at approximately $33,478,000. Point72 Hong Kong Ltd acquired a new position in Seagate Technology in the 2nd quarter valued at approximately $35,349,000. Finally, Clearbridge Investments LLC lifted its position in Seagate Technology by 14.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after buying an additional 337,464 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on STX. The Goldman Sachs Group boosted their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. UBS Group increased their price target on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Bank of America restated a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a research note on Wednesday, June 5th. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Morgan Stanley boosted their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $115.94.

Seagate Technology Price Performance

STX opened at $108.56 on Thursday. The firm’s fifty day moving average price is $101.49 and its two-hundred day moving average price is $97.44. Seagate Technology Holdings plc has a fifty-two week low of $64.12 and a fifty-two week high of $113.57. The company has a market capitalization of $22.85 billion, a P/E ratio of -84.16 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned ($0.29) EPS. Seagate Technology’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities research analysts expect that Seagate Technology Holdings plc will post 6.72 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.58%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio is currently -217.05%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the completion of the sale, the chief executive officer now owns 648,616 shares of the company’s stock, valued at $69,842,970.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now owns 668,616 shares of the company’s stock, valued at $73,668,110.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total value of $2,153,600.00. Following the transaction, the chief executive officer now owns 648,616 shares in the company, valued at approximately $69,842,970.88. The disclosure for this sale can be found here. Insiders have sold a total of 223,284 shares of company stock worth $23,800,887 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Company 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.