Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Element Capital Management LLC

Element Capital Management LLC trimmed its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 46.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,794 shares of the data storage provider's stock after selling 9,499 shares during the quarter. Element Capital Management LLC's holdings in Seagate Technology were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Firm Inc. bought a new position in shares of Seagate Technology during the 2nd quarter worth about $41,000. ICA Group Wealth Management LLC bought a new stake in shares of Seagate Technology during the fourth quarter valued at approximately $47,000. Richardson Financial Services Inc. acquired a new position in shares of Seagate Technology during the fourth quarter worth approximately $47,000. Larson Financial Group LLC lifted its holdings in shares of Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider's stock worth $49,000 after purchasing an additional 473 shares in the last quarter. Finally, Viking Fund Management LLC grew its position in Seagate Technology by 722.2% in the 1st quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider's stock valued at $69,000 after purchasing an additional 650 shares during the period. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Seagate Technology

In other news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares in the company, valued at $592,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Ban Seng Teh sold 10,117 shares of the firm's stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now owns 5,387 shares in the company, valued at $592,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company's stock, valued at $291,567.40. The disclosure for this sale can be found here. Insiders sold 56,627 shares of company stock valued at $5,489,495 over the last three months. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on STX. Loop Capital upped their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their target price on Seagate Technology from $96.00 to $107.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. Wedbush raised their price target on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. TD Cowen upped their price objective on Seagate Technology from $110.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded Seagate Technology from a "buy" rating to a "hold" rating in a research report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $115.94.

Seagate Technology Stock Up 1.5 %

Shares of Seagate Technology stock traded up $1.51 on Friday, hitting $102.13. 1,795,132 shares of the company were exchanged, compared to its average volume of 1,931,790. Seagate Technology Holdings plc has a 1-year low of $63.22 and a 1-year high of $113.57. The stock has a market capitalization of $21.50 billion, a price-to-earnings ratio of -79.17 and a beta of 1.03. The company has a 50-day moving average price of $101.44 and a 200 day moving average price of $96.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The firm's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.29) earnings per share. Research analysts forecast that Seagate Technology Holdings plc will post 6.72 EPS for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, September 23rd. Seagate Technology's payout ratio is -217.05%.

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.