Y Intercept Hong Kong Ltd Sells 21,623 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Y Intercept Hong Kong Ltd decreased its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 88.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,784 shares of the data storage provider's stock after selling 21,623 shares during the period. Y Intercept Hong Kong Ltd's holdings in Seagate Technology were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of STX. MML Investors Services LLC grew its holdings in shares of Seagate Technology by 32.7% during the third quarter. MML Investors Services LLC now owns 19,283 shares of the data storage provider's stock valued at $2,112,000 after buying an additional 4,751 shares during the last quarter. Dorsey Wright & Associates purchased a new stake in Seagate Technology in the third quarter valued at $272,000. Orion Portfolio Solutions LLC boosted its holdings in Seagate Technology by 15.1% in the third quarter. Orion Portfolio Solutions LLC now owns 2,452 shares of the data storage provider's stock valued at $269,000 after purchasing an additional 321 shares during the last quarter. National Bank of Canada FI boosted its holdings in Seagate Technology by 110.7% in the third quarter. National Bank of Canada FI now owns 126,452 shares of the data storage provider's stock valued at $13,850,000 after purchasing an additional 66,423 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its holdings in Seagate Technology by 1.0% in the third quarter. Kovitz Investment Group Partners LLC now owns 115,355 shares of the data storage provider's stock valued at $12,327,000 after purchasing an additional 1,118 shares during the last quarter. Institutional investors own 92.87% of the company's stock.

Seagate Technology Price Performance

STX traded down $2.89 during midday trading on Wednesday, reaching $91.60. 3,053,650 shares of the company's stock were exchanged, compared to its average volume of 2,504,167. The stock has a market capitalization of $19.38 billion, a PE ratio of 23.92 and a beta of 1.03. The business's 50-day moving average price is $102.08 and its 200 day moving average price is $102.26. Seagate Technology Holdings plc has a 1-year low of $79.39 and a 1-year high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business posted ($0.34) earnings per share. The company's revenue was up 49.1% on a year-over-year basis. As a group, analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently announced 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 yield of 3.14%. This is an increase 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 presently 75.20%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Benchmark reaffirmed a "hold" rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Citigroup increased their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Seagate Technology presently has an average rating of "Moderate Buy" and an average target price of $118.83.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the transaction, the chief executive officer now directly owns 622,497 shares in the company, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 221,961 shares of company stock worth $23,967,629. 0.81% of the stock is owned by company insiders.

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.