Kintegral Advisory LLC Has $410,000 Stock Position in Seagate Technology Holdings PLC (NASDAQ:STX)

Kintegral Advisory LLC decreased its stake in shares of Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 32.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund 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 filing with the SEC.

A number of other hedge funds have also made changes to their positions in STX. Johnson Financial Group Inc. increased its holdings in Seagate Technology by 22.7% during the 4th quarter. Johnson Financial Group Inc. now owns 606 shares of the data storage provider's stock valued at $52,000 after purchasing an additional 112 shares in the last quarter. Signaturefd LLC increased its holdings in Seagate Technology by 2.3% during the 4th quarter. Signaturefd LLC now owns 4,988 shares of the data storage provider's stock valued at $431,000 after purchasing an additional 113 shares in the last quarter. 1620 Investment Advisors Inc. increased its holdings in Seagate Technology by 2.6% during the 4th quarter. 1620 Investment Advisors Inc. now owns 4,835 shares of the data storage provider's stock valued at $417,000 after purchasing an additional 123 shares in the last quarter. Level Four Advisory Services LLC increased its holdings in Seagate Technology by 4.1% during the 4th quarter. Level Four Advisory Services LLC now owns 3,343 shares of the data storage provider's stock valued at $289,000 after purchasing an additional 131 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Seagate Technology by 0.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 15,247 shares of the data storage provider's stock valued at $1,327,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Analyst Ratings Changes

STX has been the subject of several research reports. Wells Fargo & Company lifted their target price on Seagate Technology from $105.00 to $122.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Bank of America raised their price target on Seagate Technology from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Morgan Stanley raised their price target on Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Citigroup raised their price target on Seagate Technology from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Mizuho reduced their price target on Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.42.

Seagate Technology Stock Performance

Shares of NASDAQ STX traded down $2.49 during midday trading on Friday, reaching $149.45. 3,619,715 shares of the stock were exchanged, compared to its average volume of 3,193,772. The company has a 50 day simple moving average of $118.28 and a 200 day simple moving average of $99.36. The stock has a market capitalization of $31.72 billion, a P/E ratio of 21.60 and a beta of 1.45. Seagate Technology Holdings PLC has a twelve month low of $63.19 and a twelve month high of $152.16.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings results 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. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The company's quarterly revenue was up 30.5% compared to the same quarter last year. On average, research analysts expect that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 1.93%. Seagate Technology's payout ratio is currently 41.62%.

Seagate Technology declared that its Board of Directors has initiated a stock buyback program on Thursday, May 22nd that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the data storage provider to buy up to 21.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at Seagate Technology

In related news, Director Michael R. Cannon sold 24,190 shares of the company's stock in a transaction that occurred on 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 owned 10,835 shares of the company's stock, valued at approximately $1,289,365. This represents a 69.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ban Seng Teh sold 63,418 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $125.00, for a total transaction of $7,927,250.00. Following the sale, the executive vice president directly owned 14,658 shares of the company's stock, valued at approximately $1,832,250. The trade was a 81.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 393,791 shares of company stock valued at $47,582,998. 0.81% of the stock is owned by corporate insiders.

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.