Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 23.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 171,100 shares of the data storage provider's stock after selling 53,200 shares during the period. Two Sigma Advisers LP owned approximately 0.08% of Seagate Technology worth $18,741,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Victory Capital Management Inc. raised its stake in shares of Seagate Technology by 133.8% during the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider's stock worth $18,834,000 after purchasing an additional 98,418 shares during the last quarter. Versor Investments LP acquired a new position in Seagate Technology in the 3rd quarter valued at $2,146,000. Lighthouse Investment Partners LLC purchased a new position in Seagate Technology during the 2nd quarter worth $499,000. Forte Capital LLC ADV lifted its stake in shares of Seagate Technology by 29.8% in the 3rd quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider's stock worth $3,173,000 after acquiring an additional 6,653 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of Seagate Technology by 3,549.7% in the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider's stock valued at $22,398,000 after acquiring an additional 198,890 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company's stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ban Seng Teh sold 4,872 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the sale, the executive vice president now directly owns 9,969 shares of the company's stock, valued at approximately $1,096,590. This trade represents a 32.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,820 shares of company stock valued at $23,953,746. Insiders own 0.81% of the company's stock.

Seagate Technology Price Performance

STX stock traded up $0.46 during midday trading on Monday, hitting $98.97. The stock had a trading volume of 2,437,145 shares, compared to its average volume of 2,484,655. The company's 50-day moving average price is $103.64 and its 200 day moving average price is $102.13. The firm has a market cap of $20.94 billion, a PE ratio of 25.72 and a beta of 1.03. Seagate Technology Holdings plc has a 12-month low of $79.39 and a 12-month high of $115.32.

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 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 the consensus estimate of $2.13 billion. During the same quarter in the previous year, the business earned ($0.34) earnings per share. The business's revenue for the quarter was up 49.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, December 13th. Seagate Technology's dividend payout ratio is presently 73.11%.

Analysts Set New Price Targets

Several research analysts recently issued reports on STX shares. Evercore ISI increased their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Citigroup raised their price target on Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Rosenblatt Securities upped their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Northland Securities increased their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Seagate Technology currently has a consensus rating of "Moderate Buy" and a consensus 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.