Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its position in Seagate Technology Holdings plc (NASDAQ:STX) by 4.9% during the third quarter, HoldingsChannel reports. The firm owned 14,764 shares of the data storage provider’s stock after selling 762 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Seagate Technology were worth $1,617,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. QRG Capital Management Inc. increased its position in shares of Seagate Technology by 1.8% in the 3rd quarter. QRG Capital Management Inc. now owns 10,330 shares of the data storage provider’s stock valued at $1,131,000 after purchasing an additional 183 shares during the last quarter. Vestor Capital LLC increased its position in shares of Seagate Technology by 55.5% in the 3rd quarter. Vestor Capital LLC now owns 689 shares of the data storage provider’s stock valued at $75,000 after purchasing an additional 246 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Seagate Technology by 13.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 73,064 shares of the data storage provider’s stock valued at $8,003,000 after purchasing an additional 8,944 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Seagate Technology by 5.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,954 shares of the data storage provider’s stock valued at $543,000 after buying an additional 250 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its position in shares of Seagate Technology by 25.6% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 5,078 shares of the data storage provider’s stock valued at $556,000 after buying an additional 1,036 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Stock Performance

STX stock opened at $105.11 on Friday. Seagate Technology Holdings plc has a one year low of $70.41 and a one year high of $115.32. The stock has a market capitalization of $22.23 billion, a PE ratio of 27.44 and a beta of 1.05. The company has a fifty day moving average of $104.95 and a 200-day moving average of $100.67.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the business earned ($0.34) EPS. The business’s revenue was up 49.1% on a year-over-year basis. Equities analysts forecast that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a $0.72 dividend. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.74%. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Analysts Set New Price Targets

STX has been the topic of a number of recent analyst reports. Northland Securities increased their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird increased their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. UBS Group increased their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Evercore ISI raised their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Susquehanna raised their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at $291,567.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the transaction, the executive vice president now owns 9,969 shares in the company, valued at approximately $1,096,590. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,638 shares of company stock worth $20,924,155 over the last 90 days. Company 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.