Townsquare Capital LLC Sells 134 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Townsquare Capital LLC reduced its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,486 shares of the data storage provider’s stock after selling 134 shares during the quarter. Townsquare Capital LLC’s holdings in Seagate Technology were worth $491,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its stake in shares of Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after acquiring an additional 89 shares in the last quarter. CWM LLC grew its stake 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 worth $342,000 after acquiring an additional 97 shares in the last quarter. Affinity Capital Advisors LLC grew its stake 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 worth $725,000 after acquiring an additional 100 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake 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 worth $357,000 after acquiring an additional 122 shares in the last quarter. Finally, Forum Financial Management LP grew its stake in shares of Seagate Technology by 4.0% during the 2nd quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock worth $333,000 after acquiring an additional 125 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Northland Securities raised their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two research 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. According to MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average target price of $118.83.

Seagate Technology Stock Down 1.2 %

STX stock opened at $97.63 on Thursday. The company has a market cap of $20.65 billion, a PE ratio of 25.49 and a beta of 1.03. The business has a 50-day simple moving average of $104.10 and a 200 day simple moving average of $102.04. Seagate Technology Holdings plc has a 52 week low of $76.87 and a 52 week high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. On average, analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is currently 75.20%.

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now owns 7,191 shares in the company, valued at approximately $804,672.90. This trade represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 221,820 shares of company stock worth $23,953,746 over the last 90 days. Insiders own 0.81% 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.