Cerity Partners LLC Sells 2,119 Shares of Seagate Technology Holdings PLC (NASDAQ:STX)

Cerity Partners LLC decreased its holdings in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,165 shares of the data storage provider's stock after selling 2,119 shares during the period. Cerity Partners LLC's holdings in Seagate Technology were worth $2,478,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its stake in Seagate Technology by 10.2% during the first quarter. Alps Advisors Inc. now owns 278,831 shares of the data storage provider's stock worth $23,687,000 after purchasing an additional 25,817 shares during the last quarter. Allworth Financial LP lifted its stake in Seagate Technology by 363.4% during the first quarter. Allworth Financial LP now owns 26,754 shares of the data storage provider's stock worth $2,222,000 after purchasing an additional 20,980 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Seagate Technology by 17.3% during the first quarter. Nisa Investment Advisors LLC now owns 40,230 shares of the data storage provider's stock worth $3,447,000 after purchasing an additional 5,920 shares during the last quarter. Greenleaf Trust lifted its stake in Seagate Technology by 4.6% during the first quarter. Greenleaf Trust now owns 6,480 shares of the data storage provider's stock worth $550,000 after purchasing an additional 283 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Seagate Technology by 20.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 44,704 shares of the data storage provider's stock worth $3,740,000 after purchasing an additional 7,604 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Trading Up 1.6%

Shares of STX opened at $149.07 on Friday. The firm has a market cap of $31.64 billion, a PE ratio of 21.54 and a beta of 1.45. The firm has a fifty day simple moving average of $129.38 and a two-hundred day simple moving average of $103.48. Seagate Technology Holdings PLC has a 1-year low of $63.19 and a 1-year high of $152.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.14 billion. Seagate Technology had a negative return on equity of 105.02% and a net margin of 17.49%. Seagate Technology's revenue was up 30.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 6.83 EPS for the current fiscal year.

Seagate Technology declared that its Board of Directors has approved a share buyback plan on Thursday, May 22nd that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th were paid a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $2.88 dividend on an annualized basis and a yield of 1.93%. Seagate Technology's payout ratio is presently 41.62%.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 1,725 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $144.00, for a total transaction of $248,400.00. Following the completion of the transaction, the executive vice president owned 12,052 shares of the company's stock, valued at $1,735,488. This represents a 12.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Cannon sold 24,190 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $119.00, for a total transaction of $2,878,610.00. Following the transaction, the director directly owned 10,835 shares of the company's stock, valued at $1,289,365. This trade represents a 69.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 395,516 shares of company stock worth $47,831,398. 0.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on STX shares. BNP Paribas Exane upgraded Seagate Technology from an "underperform" rating to a "neutral" rating and set a $100.00 price objective on the stock in a report on Friday, May 16th. Wells Fargo & Company boosted their price target on Seagate Technology from $122.00 to $160.00 and gave the company an "equal weight" rating in a report on Thursday. Wedbush restated an "outperform" rating and set a $140.00 price target on shares of Seagate Technology in a report on Wednesday, May 21st. Barclays boosted their price target on Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald boosted their price target on Seagate Technology from $110.00 to $125.00 and gave the company a "neutral" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and an average target price of $130.00.

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.

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