Forte Capital LLC ADV Has $2.63 Million Position in Seagate Technology Holdings PLC (NASDAQ:STX)

Forte Capital LLC ADV raised its stake in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 16.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,899 shares of the data storage provider's stock after purchasing an additional 4,329 shares during the period. Forte Capital LLC ADV's holdings in Seagate Technology were worth $2,625,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in Seagate Technology in the 4th quarter valued at $26,000. Elequin Capital LP bought a new position in shares of Seagate Technology during the 4th quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Seagate Technology during the 4th quarter worth about $27,000. Wayfinding Financial LLC bought a new position in shares of Seagate Technology during the 1st quarter worth about $31,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Seagate Technology by 2,200.0% during the 1st quarter. Golden State Wealth Management LLC now owns 460 shares of the data storage provider's stock worth $39,000 after acquiring an additional 440 shares during the period. 92.87% of the stock is owned by institutional investors.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 1,725 shares of Seagate Technology stock in a transaction that occurred on 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 sale, the executive vice president owned 12,052 shares in the company, valued at $1,735,488. The trade was a 12.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephanie Tilenius sold 2,693 shares of Seagate Technology stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $128.04, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 395,516 shares of company stock worth $47,831,398 in the last quarter. 0.81% of the stock is owned by company insiders.

Seagate Technology Stock Performance

STX traded down $0.40 during midday trading on Thursday, hitting $146.72. The company had a trading volume of 5,152,953 shares, compared to its average volume of 3,260,244. The company has a market capitalization of $31.14 billion, a PE ratio of 21.20 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. The firm's 50-day simple moving average is $128.31 and its 200-day simple moving average is $102.93.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.14 billion. Seagate Technology had a net margin of 17.49% and a negative return on equity of 105.02%. The company's quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 EPS. As a group, sell-side analysts anticipate 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 stock repurchase program on Thursday, May 22nd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the data storage provider to buy up to 21.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Wednesday, June 25th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Wednesday, June 25th. Seagate Technology's dividend payout ratio is 41.62%.

Analyst Ratings Changes

A number of research firms have recently commented on STX. BNP Paribas raised shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a report on Friday, May 16th. Bank of America raised their price objective on shares of Seagate Technology from $145.00 to $165.00 and gave the stock a "buy" rating in a report on Monday. UBS Group raised their price objective on shares of Seagate Technology from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Morgan Stanley raised their price objective on shares of Seagate Technology from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Monday. Finally, The Goldman Sachs Group initiated coverage on shares of Seagate Technology in a report on Thursday, July 10th. They set a "buy" rating and a $170.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $130.00.

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.