Kintegral Advisory LLC Sells 2,346 Shares of Seagate Technology Holdings PLC (NASDAQ:STX)

Kintegral Advisory LLC lowered its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 32.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,782 shares of the data storage provider's stock after selling 2,346 shares during the period. Kintegral Advisory LLC's holdings in Seagate Technology were worth $410,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of STX. Ameriflex Group Inc. purchased a new stake in Seagate Technology in the 4th quarter worth about $26,000. Elequin Capital LP purchased a new stake in shares of Seagate Technology in the fourth quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC lifted its position in shares of Seagate Technology by 2,200.0% in the first quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after purchasing an additional 440 shares in the last quarter. Finally, Menard Financial Group LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Activity

In other news, Director Stephanie Tilenius sold 2,693 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $128.04, for a total value of $344,811.72. Following the sale, the director owned 12,244 shares of the company's stock, valued at approximately $1,567,721.76. This represents a 18.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 599 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $130.00, for a total value of $77,870.00. Following the sale, the executive vice president owned 10,329 shares in the company, valued at approximately $1,342,770. This trade represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 393,791 shares of company stock worth $47,582,998 in the last quarter. 0.81% of the stock is owned by company insiders.

Seagate Technology Price Performance

STX stock traded down $1.05 on Monday, reaching $148.39. 3,660,030 shares of the company were exchanged, compared to its average volume of 3,195,642. The stock's fifty day moving average price is $119.61 and its 200 day moving average price is $99.87. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $152.16. The firm has a market capitalization of $31.49 billion, a PE ratio of 21.44 and a beta of 1.45.

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

Seagate Technology announced that its Board of Directors has approved a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to reacquire up to 21.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a dividend yield of 1.94%. Seagate Technology's dividend payout ratio is currently 41.62%.

Analyst Ratings Changes

STX has been the subject of a number of research analyst reports. Citigroup increased their target price on shares of Seagate Technology from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Wall Street Zen lowered Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. UBS Group increased their price objective on Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Rosenblatt Securities reaffirmed a "buy" rating and set a $130.00 price target on shares of Seagate Technology in a research note on Friday, May 23rd. Finally, Barclays raised their price target on Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price of $119.42.

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.