Forte Capital LLC ADV Grows Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Forte Capital LLC ADV raised its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 29.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,972 shares of the data storage provider's stock after purchasing an additional 6,653 shares during the period. Forte Capital LLC ADV's holdings in Seagate Technology were worth $3,173,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in STX. Vanguard Group Inc. raised its position in shares of Seagate Technology by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider's stock valued at $2,303,274,000 after buying an additional 746,395 shares in the last quarter. Delta Global Management LP purchased a new position in shares of Seagate Technology during the first quarter valued at approximately $33,478,000. Point72 Hong Kong Ltd bought a new position in shares of Seagate Technology during the second quarter valued at approximately $35,349,000. Clearbridge Investments LLC lifted its stake in shares of Seagate Technology by 14.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider's stock worth $247,218,000 after acquiring an additional 337,464 shares during the last quarter. Finally, Duquesne Family Office LLC boosted its holdings in Seagate Technology by 22.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider's stock valued at $181,268,000 after acquiring an additional 316,295 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

STX traded up $2.13 during trading on Thursday, hitting $105.11. The stock had a trading volume of 1,953,543 shares, compared to its average volume of 2,507,162. Seagate Technology Holdings plc has a twelve month low of $70.41 and a twelve month high of $115.32. The stock has a 50 day simple moving average of $104.80 and a two-hundred day simple moving average of $100.64. The company has a market capitalization of $22.23 billion, a PE ratio of 26.89 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 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology's revenue was up 49.1% on a year-over-year basis. During the same period last year, the firm posted ($0.34) EPS. On average, equities research analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently disclosed 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 represents a $2.88 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's dividend payout ratio is presently 73.11%.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Barclays lifted their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 24th. Evercore ISI raised their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Wedbush reiterated an "outperform" rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Loop Capital raised their price objective on Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Finally, Robert W. Baird upped their target price on Seagate Technology from $100.00 to $120.00 and gave the stock an "outperform" rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus target price of $118.83.

Insiders Place Their Bets

In related news, EVP Ban Seng Teh sold 4,872 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $1,096,590. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Ban Seng Teh sold 4,872 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares in the company, valued at approximately $73,668,110.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,638 shares of company stock valued at $20,924,155. Company insiders own 0.81% of the company's stock.

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.