Cambridge Investment Research Advisors Inc. Sells 2,916 Shares of Seagate Technology Holdings PLC (NASDAQ:STX)

Cambridge Investment Research Advisors Inc. decreased its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,301 shares of the data storage provider's stock after selling 2,916 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Seagate Technology were worth $2,489,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Tidal Investments LLC boosted its holdings in Seagate Technology by 133.1% in the fourth quarter. Tidal Investments LLC now owns 12,681 shares of the data storage provider's stock worth $1,094,000 after purchasing an additional 7,240 shares during the last quarter. Norges Bank bought a new position in shares of Seagate Technology during the 4th quarter valued at $25,729,000. Farther Finance Advisors LLC boosted its stake in shares of Seagate Technology by 22.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,791 shares of the data storage provider's stock worth $490,000 after buying an additional 1,067 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Seagate Technology by 9,116.6% in the first quarter. GAMMA Investing LLC now owns 257,144 shares of the data storage provider's stock worth $21,844,000 after acquiring an additional 254,354 shares during the period. Finally, US Bancorp DE increased its position in Seagate Technology by 3.3% during the fourth quarter. US Bancorp DE now owns 18,085 shares of the data storage provider's stock valued at $1,561,000 after acquiring an additional 577 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In related news, EVP Ban Seng Teh sold 599 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $130.00, for a total transaction of $77,870.00. Following the completion of the transaction, the executive vice president directly owned 10,329 shares of the company's stock, valued at approximately $1,342,770. This trade represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Mosley sold 54,347 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $130.19, for a total transaction of $7,075,435.93. Following the completion of the sale, the chief executive officer owned 515,677 shares in the company, valued at approximately $67,135,988.63. The trade was a 9.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 373,791 shares of company stock worth $44,689,798. Insiders own 0.81% of the company's stock.

Seagate Technology Trading Up 2.0%

Seagate Technology stock traded up $2.86 during mid-day trading on Wednesday, hitting $147.90. The stock had a trading volume of 554,912 shares, compared to its average volume of 3,936,165. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $147.81. The firm has a market capitalization of $31.39 billion, a P/E ratio of 21.38 and a beta of 1.44. The firm's 50 day moving average is $114.14 and its 200 day moving average is $98.19.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The data storage provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The business's quarterly revenue was up 30.5% compared to the same quarter last year. As a group, equities research analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology declared that its Board of Directors has authorized a share buyback plan on Thursday, May 22nd that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the data storage provider to reacquire up to 21.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Seagate Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders 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 yield of 1.95%. Seagate Technology's payout ratio is 41.62%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $130.00 target price on shares of Seagate Technology in a research report on Friday, May 23rd. Barclays increased their price objective on shares of Seagate Technology from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. BNP Paribas upgraded shares of Seagate Technology from a "strong sell" rating to a "hold" rating in a research report on Friday, May 16th. Morgan Stanley increased their price target on shares of Seagate Technology from $99.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Mizuho dropped their price target on shares of Seagate Technology from $115.00 to $95.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $119.42.

Seagate Technology 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.