Seagate Technology Holdings PLC (NASDAQ:STX) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC trimmed its holdings in Seagate Technology Holdings PLC (NASDAQ:STX - Free Report) by 87.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,818 shares of the data storage provider's stock after selling 77,649 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Seagate Technology were worth $919,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of STX. Capital Research Global Investors raised its position in shares of Seagate Technology by 56.5% during the 4th quarter. Capital Research Global Investors now owns 15,621,162 shares of the data storage provider's stock valued at $1,348,262,000 after buying an additional 5,640,443 shares during the period. Vanguard Group Inc. raised its position in shares of Seagate Technology by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider's stock valued at $2,414,446,000 after buying an additional 1,814,821 shares during the period. Marshall Wace LLP purchased a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $77,341,000. Junto Capital Management LP purchased a new stake in shares of Seagate Technology during the 4th quarter valued at approximately $60,303,000. Finally, Janus Henderson Group PLC increased its holdings in Seagate Technology by 2,853.4% in the 4th quarter. Janus Henderson Group PLC now owns 670,976 shares of the data storage provider's stock valued at $57,925,000 after purchasing an additional 648,257 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on STX shares. Barclays lifted their target price on shares of Seagate Technology from $80.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Wall Street Zen downgraded shares of Seagate Technology from a "buy" rating to a "hold" rating in a report on Friday, May 30th. UBS Group lifted their target price on shares of Seagate Technology from $80.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Wedbush reiterated an "outperform" rating and issued a $140.00 target price on shares of Seagate Technology in a report on Wednesday, May 21st. Finally, Citigroup lifted their target price on shares of Seagate Technology from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $123.16.

Insider Buying and Selling at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $117.01, for a total value of $87,757.50. Following the completion of the sale, the director directly owned 5,055 shares of the company's stock, valued at approximately $591,485.55. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephanie Tilenius sold 2,693 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $128.04, for a total transaction of $344,811.72. Following the transaction, the director directly owned 12,244 shares of the company's stock, valued at $1,567,721.76. This represents a 18.03% 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 valued at $47,582,998 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

Shares of Seagate Technology stock traded up $2.35 during trading on Friday, hitting $146.85. 1,051,993 shares of the stock were exchanged, compared to its average volume of 3,230,739. Seagate Technology Holdings PLC has a 12-month low of $63.19 and a 12-month high of $152.16. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 21.23 and a beta of 1.45. The firm's 50-day moving average price is $122.98 and its 200 day moving average price is $100.86.

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 (EPS) for the quarter, beating 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 company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Seagate Technology's revenue for the quarter was up 30.5% on a year-over-year basis. As a group, research analysts forecast that Seagate Technology Holdings PLC will post 6.83 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 1.96%. Seagate Technology's dividend payout ratio is presently 41.62%.

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

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.