Inlet Private Wealth LLC Sells 4,425 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Inlet Private Wealth LLC trimmed its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,100 shares of the data storage provider’s stock after selling 4,425 shares during the quarter. Seagate Technology comprises 1.4% of Inlet Private Wealth LLC’s portfolio, making the stock its 22nd biggest holding. Inlet Private Wealth LLC’s holdings in Seagate Technology were worth $5,446,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sanders Capital LLC increased its position in Seagate Technology by 0.9% in the third quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock worth $1,792,742,000 after purchasing an additional 150,115 shares during the period. State Street Corp boosted its position in shares of Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock worth $937,081,000 after purchasing an additional 541,585 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Seagate Technology by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after purchasing an additional 318,416 shares during the period. Franklin Resources Inc. increased its holdings in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after purchasing an additional 405,232 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Seagate Technology by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock valued at $145,447,000 after buying an additional 73,267 shares during the period. 92.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on STX shares. Citigroup increased their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Mizuho cut their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Susquehanna boosted their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the company a “negative” rating in a report on Wednesday, January 22nd. Summit Insights raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Finally, The Goldman Sachs Group lowered their price target on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Seagate Technology currently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Insiders Place Their Bets

In other news, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company’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 completion of the transaction, the director now owns 6,555 shares in the company, valued at $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,073 shares of company stock valued at $3,115,549 over the last 90 days. 0.81% of the stock is currently owned by insiders.

Seagate Technology Price Performance

Shares of STX stock opened at $96.36 on Friday. The company has a fifty day moving average price of $95.10 and a two-hundred day moving average price of $100.17. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32. The stock has a market cap of $20.40 billion, a P/E ratio of 17.62 and a beta of 1.06.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

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.