Kovack Advisors Inc. Sells 104 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Kovack Advisors Inc. lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 3.8% in the third quarter, HoldingsChannel reports. The firm owned 2,602 shares of the data storage provider’s stock after selling 104 shares during the period. Kovack Advisors Inc.’s holdings in Seagate Technology were worth $285,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in shares of Seagate Technology by 133.8% in the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after acquiring an additional 98,418 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Seagate Technology by 2.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 465,428 shares of the data storage provider’s stock valued at $50,978,000 after purchasing an additional 10,122 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Seagate Technology in the third quarter worth $259,000. Entropy Technologies LP boosted its position in shares of Seagate Technology by 42.2% during the third quarter. Entropy Technologies LP now owns 7,617 shares of the data storage provider’s stock worth $834,000 after purchasing an additional 2,260 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in shares of Seagate Technology by 4.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 12,194 shares of the data storage provider’s stock valued at $1,336,000 after buying an additional 503 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.7 %

Shares of Seagate Technology stock opened at $96.79 on Friday. Seagate Technology Holdings plc has a 12-month low of $74.33 and a 12-month high of $115.32. The business’s 50 day moving average is $105.02 and its 200-day moving average is $101.23. The stock has a market cap of $20.47 billion, a P/E ratio of 25.27 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) 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 net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted ($0.34) EPS. The company’s quarterly revenue was up 49.1% on a year-over-year basis. On average, sell-side analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current 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 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 dividend payout ratio (DPR) is presently 73.11%.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was 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 approximately $804,672.90. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore ISI lifted their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating 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 report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Seagate Technology currently has a consensus rating of “Moderate Buy” and an average 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.