Elevated Capital Advisors LLC Sells 142 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Elevated Capital Advisors LLC decreased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 1.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 11,076 shares of the data storage provider’s stock after selling 142 shares during the period. Elevated Capital Advisors LLC’s holdings in Seagate Technology were worth $1,213,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. Quarry LP bought a new stake in Seagate Technology during the second quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 337 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Seagate Technology in the 2nd quarter worth $41,000. Larson Financial Group LLC grew its holdings in Seagate Technology by 15,766.7% during the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after acquiring an additional 473 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in Seagate Technology during the third quarter worth $55,000. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company increased their price target on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Wedbush increased their target price on shares of Seagate Technology from $100.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Barclays increased their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Citigroup boosted their price target on shares of Seagate Technology from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Susquehanna boosted their target price on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.78.

Insider Activity

In related news, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, the senior vice president now owns 7,191 shares of the company’s stock, valued at $804,672.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 214,298 shares of company stock valued at $22,814,576. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Stock Performance

Seagate Technology stock opened at $112.64 on Wednesday. The company’s 50 day simple moving average is $104.92 and its 200-day simple moving average is $99.52. Seagate Technology Holdings plc has a 1 year low of $64.12 and a 1 year high of $115.32. The company has a market capitalization of $23.71 billion, a price-to-earnings ratio of 73.14 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The company’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period last year, the business posted ($0.34) earnings per share. Equities analysts expect that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.56%. Seagate Technology’s dividend payout ratio is 181.82%.

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.