Brown Brothers Harriman & Co. Trims Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Brown Brothers Harriman & Co. trimmed its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,070 shares of the data storage provider’s stock after selling 256 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Seagate Technology were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its stake in shares of Seagate Technology by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after acquiring an additional 89 shares during the last quarter. CWM LLC grew its position in 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 during the last quarter. Affinity Capital Advisors LLC increased its stake in 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 increased its stake in 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. raised its holdings in Seagate Technology by 3.3% in the first quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock worth $367,000 after buying an additional 125 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Seagate Technology Trading Down 1.6 %

Shares of NASDAQ:STX opened at $100.00 on Thursday. Seagate Technology Holdings plc has a 12-month low of $76.30 and a 12-month high of $115.32. The company has a market cap of $21.15 billion, a PE ratio of 26.11 and a beta of 1.05. The stock has a 50 day moving average of $104.68 and a 200 day moving average of $101.91.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company posted ($0.34) earnings per share. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. Equities research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal 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 given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.88%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s payout ratio is presently 73.11%.

Insider Buying and Selling

In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of the 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 transaction, the executive vice president now owns 9,969 shares of the company’s stock, valued at $1,096,590. This represents a 32.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,820 shares of company stock worth $21,892,856. 0.81% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on STX shares. Rosenblatt Securities increased their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northland Securities lifted their target price on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

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.