Robeco Institutional Asset Management B.V. Sells 2,869 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Robeco Institutional Asset Management B.V. lessened its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 154,122 shares of the data storage provider’s stock after selling 2,869 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Seagate Technology were worth $16,881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP bought a new position in shares of Seagate Technology during the second quarter valued at $27,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in Seagate Technology by 2,407.1% during 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 in the last quarter. Family Firm Inc. purchased a new position in Seagate Technology in the second quarter worth about $41,000. JFS Wealth Advisors LLC lifted its stake in shares of Seagate Technology by 232.5% in 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 in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Seagate Technology by 15,766.7% during 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 last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on STX shares. Cantor Fitzgerald restated a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Barclays boosted their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Loop Capital increased their price objective on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities boosted their target price on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the sale, the chief executive officer now directly owns 642,497 shares in the company, valued at $63,947,726.41. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the sale, the chief executive officer now owns 642,497 shares in the company, valued at approximately $63,947,726.41. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,638 shares of company stock worth $20,924,155 over the last three months. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

Shares of STX stock opened at $102.98 on Thursday. The company has a market cap of $21.78 billion, a price-to-earnings ratio of 26.89 and a beta of 1.05. Seagate Technology Holdings plc has a 1 year low of $70.31 and a 1 year high of $115.32. The firm has a fifty day moving average price of $104.80 and a 200-day moving average price of $100.64.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping 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 prior year, the business posted ($0.34) earnings per share. The business’s quarterly revenue was up 49.1% on a year-over-year basis. Equities research analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a yield of 2.80%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is currently 73.11%.

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.