Lifeworks Advisors LLC Sells 15,806 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Lifeworks Advisors LLC lowered its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 70.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,621 shares of the data storage provider's stock after selling 15,806 shares during the period. Lifeworks Advisors LLC's holdings in Seagate Technology were worth $725,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sequoia Financial Advisors LLC boosted its position in shares of Seagate Technology by 3.6% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider's stock valued at $281,000 after purchasing an additional 89 shares in the last quarter. CWM LLC boosted its position in shares of Seagate Technology by 3.0% during the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider's stock valued at $342,000 after purchasing an additional 97 shares in the last quarter. Affinity Capital Advisors LLC boosted its position in shares of Seagate Technology by 1.5% during the 3rd quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider's stock valued at $725,000 after purchasing an additional 100 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in shares of Seagate Technology by 3.7% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider's stock valued at $357,000 after purchasing an additional 122 shares in the last quarter. Finally, Burney Co. boosted its position in shares of Seagate Technology by 3.3% during the 1st quarter. Burney Co. now owns 3,948 shares of the data storage provider's stock valued at $367,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 92.87% of the company's stock.

Insider Buying and Selling

In other news, Director Yolanda Lee Conyers sold 750 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The trade was a 19.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock worth $21,892,856 over the last three months. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

Shares of NASDAQ STX traded down $0.67 during midday trading on Friday, reaching $96.79. 1,925,213 shares of the company traded hands, compared to its average volume of 2,486,239. The firm has a market cap of $20.47 billion, a PE ratio of 25.27 and a beta of 1.05. The stock's 50-day simple moving average is $105.02 and its 200-day simple moving average is $101.23. Seagate Technology Holdings plc has a 12 month low of $74.33 and a 12 month high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results 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 business had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the previous year, the business posted ($0.34) earnings per share. The firm's revenue for the quarter was up 49.1% compared to the same quarter last year. On average, equities research analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.98%. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology's payout ratio is currently 73.11%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Susquehanna upped their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the company a "negative" rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price objective 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. Robert W. Baird increased their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 24th. Morgan Stanley increased their price target 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. Finally, 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 report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Seagate Technology currently has an average rating of "Moderate Buy" and an average target price 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.