Bell Bank Decreases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Bell Bank cut its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 13.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,644 shares of the data storage provider's stock after selling 10,451 shares during the quarter. Bell Bank's holdings in Seagate Technology were worth $7,300,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Bessemer Group Inc. raised its holdings in Seagate Technology by 68.7% during the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider's stock valued at $1,634,000 after buying an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Seagate Technology by 2.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider's stock valued at $24,011,000 after acquiring an additional 6,044 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Seagate Technology by 21.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider's stock worth $21,677,000 after purchasing an additional 40,649 shares during the period. Versor Investments LP bought a new stake in shares of Seagate Technology in the third quarter worth about $2,146,000. Finally, Lighthouse Investment Partners LLC purchased a new position in Seagate Technology during the 2nd quarter valued at about $499,000. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 4,872 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the sale, the executive vice president now directly owns 9,969 shares of the company's stock, valued at approximately $1,096,590. The trade was a 32.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 141,785 shares of the company's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the transaction, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. This represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,820 shares of company stock worth $21,892,856. Insiders own 0.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on STX shares. Morgan Stanley raised their target price on shares of Seagate Technology from $115.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 24th. Benchmark restated a "hold" rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Loop Capital raised their price objective on Seagate Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. Wells Fargo & Company upped their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group increased their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.83.

Seagate Technology Stock Down 0.8 %

STX traded down $0.81 during mid-day trading on Thursday, reaching $97.46. 1,811,362 shares of the company traded hands, compared to its average volume of 2,488,762. The stock has a market capitalization of $20.62 billion, a P/E ratio of 25.56 and a beta of 1.05. Seagate Technology Holdings plc has a 52-week low of $74.06 and a 52-week high of $115.32. The company's fifty day moving average price is $105.11 and its 200-day moving average price is $101.18.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the company earned ($0.34) earnings per share. The firm's revenue was up 49.1% on a year-over-year basis. As a group, sell-side analysts forecast that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.96%. Seagate Technology's dividend payout ratio is presently 73.11%.

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.