Wellington Management Group LLP Sells 3,361 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Wellington Management Group LLP cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 10.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,018 shares of the data storage provider’s stock after selling 3,361 shares during the period. Wellington Management Group LLP’s holdings in Seagate Technology were worth $3,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. raised its stake in shares of Seagate Technology by 133.8% during the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after buying an additional 98,418 shares during the last quarter. Versor Investments LP bought a new stake in shares of Seagate Technology during the 3rd quarter valued at $2,146,000. Lighthouse Investment Partners LLC acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $499,000. Forte Capital LLC ADV boosted its position in shares of Seagate Technology by 29.8% in the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after purchasing an additional 6,653 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Seagate Technology by 3,549.7% during the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock worth $22,398,000 after purchasing an additional 198,890 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 1.1 %

Shares of STX opened at $94.49 on Wednesday. The company has a 50 day moving average of $102.36 and a 200-day moving average of $102.25. The stock has a market capitalization of $19.99 billion, a P/E ratio of 24.93 and a beta of 1.03. Seagate Technology Holdings plc has a twelve month low of $79.39 and a twelve month high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the business earned ($0.34) EPS. The company’s revenue was up 49.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 3.05%. Seagate Technology’s dividend payout ratio is 75.20%.

Insider Buying and Selling at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the completion of the transaction, the chief executive officer now owns 622,497 shares of the company’s stock, valued at $64,011,366.51. This trade represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,961 shares of company stock worth $23,967,629 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STX shares. Benchmark restated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Northland Securities lifted their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Rosenblatt Securities upped their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.83.

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.