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

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position in Seagate Technology by 68.7% during the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock valued at $1,634,000 after purchasing an additional 7,150 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Seagate Technology by 2.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after acquiring an additional 6,044 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Seagate Technology by 21.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after acquiring an additional 40,649 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Seagate Technology by 15.7% in the first quarter. Illinois Municipal Retirement Fund now owns 60,702 shares of the data storage provider’s stock worth $5,648,000 after acquiring an additional 8,242 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Seagate Technology in the second quarter worth about $499,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on STX. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Susquehanna boosted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were 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 directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Mosley sold 141,785 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the sale, the chief executive officer now owns 668,616 shares in the company, valued at approximately $73,668,110.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,638 shares of company stock worth $20,924,155. 0.81% of the stock is currently owned by insiders.

Seagate Technology Price Performance

Seagate Technology stock opened at $105.11 on Friday. The firm has a 50 day simple moving average of $104.95 and a 200-day simple moving average of $100.67. Seagate Technology Holdings plc has a 1-year low of $70.41 and a 1-year high of $115.32. The stock has a market cap of $22.23 billion, a price-to-earnings ratio of 27.44 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share 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 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 company posted ($0.34) EPS. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. Equities analysts expect 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. Stockholders of record on Sunday, December 15th will be issued a $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is currently 73.11%.

Seagate Technology 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.