Fortis Advisors LLC Sells 240 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Fortis Advisors LLC lessened its position in Seagate Technology Holdings plc (NASDAQ:STX) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,350 shares of the data storage provider’s stock after selling 240 shares during the quarter. Seagate Technology comprises about 1.3% of Fortis Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Fortis Advisors LLC’s holdings in Seagate Technology were worth $2,015,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Seagate Technology in the third quarter worth $26,000. Quarry LP acquired a new position in Seagate Technology in the second quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its position in shares of Seagate Technology by 232.5% during the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 0.1 %

Shares of NASDAQ:STX opened at $88.93 on Tuesday. The firm has a market cap of $18.81 billion, a P/E ratio of 23.22 and a beta of 1.06. Seagate Technology Holdings plc has a 12-month low of $82.31 and a 12-month high of $115.32. The business has a fifty day simple moving average of $95.13 and a 200 day simple moving average of $100.53.

Seagate Technology (NASDAQ:STX) last issued its earnings results 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 analyst estimates of $2.13 billion. During the same period in the previous year, the company posted ($0.34) EPS. The firm’s revenue was up 49.1% compared to the same quarter last year. As a group, equities research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Sunday, December 15th were paid a dividend of $0.72 per share. The ex-dividend date was Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 3.24%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is 75.20%.

Insider Buying and Selling at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred 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 owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % 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. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 622,497 shares in the company, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,304 shares of company stock worth $5,656,238. Insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STX shares. Citigroup boosted their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities upped their price objective on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Mizuho decreased their target price on Seagate Technology from $130.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday. Cantor Fitzgerald reissued a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Evercore ISI upped their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.53.

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.