Alerus Financial NA Reduces Position in Seagate Technology Holdings plc (NASDAQ:STX)

Alerus Financial NA decreased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 25.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 55,853 shares of the data storage provider's stock after selling 18,866 shares during the period. Alerus Financial NA's holdings in Seagate Technology were worth $6,118,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of STX. Victory Capital Management Inc. boosted its position in shares of Seagate Technology by 133.8% in the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider's stock valued at $18,834,000 after acquiring an additional 98,418 shares during the period. Versor Investments LP acquired a new position in shares of Seagate Technology during the 3rd quarter worth approximately $2,146,000. Lighthouse Investment Partners LLC bought a new position in shares of Seagate Technology during the second quarter worth approximately $499,000. Forte Capital LLC ADV increased its holdings in shares of Seagate Technology by 29.8% during the third quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider's stock worth $3,173,000 after purchasing an additional 6,653 shares during the period. Finally, Cetera Advisors LLC raised its position in shares of Seagate Technology by 129.4% in the first quarter. Cetera Advisors LLC now owns 13,036 shares of the data storage provider's stock valued at $1,213,000 after buying an additional 7,353 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Buying and Selling

In related news, SVP John Christopher Morris sold 1,131 shares of the business's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is owned by company insiders.

Seagate Technology Stock Performance

Shares of NASDAQ STX traded up $1.33 during midday trading on Friday, reaching $101.33. The stock had a trading volume of 1,460,313 shares, compared to its average volume of 1,897,269. Seagate Technology Holdings plc has a twelve month low of $76.87 and a twelve month high of $115.32. The company's 50 day moving average price is $104.51 and its 200 day moving average price is $101.98. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of 26.46 and a beta of 1.05.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the business earned ($0.34) EPS. The firm's revenue was up 49.1% compared to the same quarter last year. Equities analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.84%. Seagate Technology's dividend payout ratio (DPR) is currently 73.11%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on STX. Northland Securities boosted their price target on Seagate Technology from $142.00 to $144.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Evercore ISI lifted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price target on Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and a consensus price target of $118.83.

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.