Brighton Jones LLC Reduces Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Brighton Jones LLC lessened its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 17.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 13,394 shares of the data storage provider's stock after selling 2,740 shares during the period. Brighton Jones LLC's holdings in Seagate Technology were worth $1,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ameriflex Group Inc. bought a new stake in Seagate Technology in the 4th quarter valued at $26,000. Elequin Capital LP bought a new stake in shares of Seagate Technology in the fourth quarter worth about $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth about $27,000. JFS Wealth Advisors LLC lifted its position in shares of Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider's stock worth $46,000 after buying an additional 113 shares in the last quarter. Finally, Human Investing LLC purchased a new position in Seagate Technology during the 4th quarter valued at approximately $48,000. 92.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $84.56, for a total value of $1,691,200.00. Following the completion of the transaction, the chief executive officer now directly owns 555,677 shares in the company, valued at approximately $46,988,047.12. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Judy Bruner sold 10,446 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $108.71, for a total transaction of $1,135,584.66. Following the completion of the sale, the director now owns 12,268 shares of the company's stock, valued at approximately $1,333,654.28. This trade represents a 45.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 393,192 shares of company stock worth $46,303,128 in the last three months. Corporate insiders own 0.81% of the company's stock.

Seagate Technology Stock Down 0.1%

STX stock traded down $0.15 during trading on Tuesday, hitting $130.89. The company had a trading volume of 3,410,770 shares, compared to its average volume of 3,077,920. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $133.55. The company has a 50 day simple moving average of $100.20 and a 200-day simple moving average of $95.24. The firm has a market capitalization of $27.78 billion, a P/E ratio of 23.93 and a beta of 1.40.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. Seagate Technology had a net margin of 14.67% and a negative return on equity of 63.48%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the prior year, the firm earned $0.33 EPS. The company's revenue for the quarter was up 30.5% compared to the same quarter last year. Sell-side analysts forecast that Seagate Technology Holdings plc will post 6.83 earnings per share for the current year.

Seagate Technology announced that its board has approved a stock buyback program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the data storage provider to purchase up to 21.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, June 25th. Seagate Technology's dividend payout ratio is 41.62%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on STX shares. Mizuho decreased their price objective on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research note on Friday, May 16th. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 price objective on shares of Seagate Technology in a research note on Friday, May 23rd. Morgan Stanley upped their target price on shares of Seagate Technology from $99.00 to $140.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen lowered Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $119.42.

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.