Prime Capital Investment Advisors LLC Has $5.35 Million Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Prime Capital Investment Advisors LLC cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 25.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,809 shares of the data storage provider's stock after selling 17,258 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Seagate Technology were worth $5,350,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Family Firm Inc. acquired a new stake in shares of Seagate Technology in the second quarter worth $41,000. ICA Group Wealth Management LLC acquired a new stake in shares of Seagate Technology in the fourth quarter worth $47,000. Richardson Financial Services Inc. acquired a new stake in shares of Seagate Technology in the fourth quarter worth $47,000. Larson Financial Group LLC boosted its position in shares of Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider's stock worth $49,000 after buying an additional 473 shares during the period. Finally, Viking Fund Management LLC boosted its position in shares of Seagate Technology by 722.2% in the first quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider's stock worth $69,000 after buying an additional 650 shares during the period. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Down 0.7 %

NASDAQ:STX traded down $0.69 on Monday, reaching $101.44. The stock had a trading volume of 1,509,404 shares, compared to its average volume of 2,565,326. The company has a market capitalization of $21.30 billion, a P/E ratio of -78.64 and a beta of 1.03. Seagate Technology Holdings plc has a 1-year low of $63.32 and a 1-year high of $113.57. The stock has a fifty day moving average price of $101.40 and a 200-day moving average price of $96.38.

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

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be given a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.76%. Seagate Technology's payout ratio is -217.05%.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at $291,567.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ban Seng Teh sold 10,117 shares of the business's stock in a transaction on 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 transaction, the executive vice president now owns 5,387 shares of the company's stock, valued at approximately $592,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now owns 3,034 shares in the company, valued at $291,567.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,627 shares of company stock valued at $5,489,495. Company insiders own 0.89% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STX shares. Bank of America reiterated a "buy" rating and set a $110.00 price target on shares of Seagate Technology in a report on Wednesday, June 5th. Wells Fargo & Company lifted their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 24th. TD Cowen increased their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, July 24th. Loop Capital lifted their price objective on shares of Seagate Technology from $105.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, July 24th. Finally, Benchmark reissued a "hold" rating on shares of Seagate Technology in a research report on Wednesday, July 24th. 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $115.94.

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.