Prospera Financial Services Inc Sells 975 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Prospera Financial Services Inc trimmed its position in Seagate Technology Holdings plc (NASDAQ:STX) by 27.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,531 shares of the data storage provider’s stock after selling 975 shares during the quarter. Prospera Financial Services Inc’s holdings in Seagate Technology were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aljian Capital Management LLC purchased a new stake in shares of Seagate Technology in the third quarter worth $205,000. Swiss National Bank boosted its holdings in Seagate Technology by 0.5% in the 3rd quarter. Swiss National Bank now owns 592,000 shares of the data storage provider’s stock worth $64,842,000 after buying an additional 2,700 shares during the period. Thrivent Financial for Lutherans increased its stake in Seagate Technology by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 10,877 shares of the data storage provider’s stock worth $1,191,000 after buying an additional 402 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in Seagate Technology by 5.0% during the third quarter. Mutual of America Capital Management LLC now owns 25,853 shares of the data storage provider’s stock valued at $2,832,000 after acquiring an additional 1,227 shares during the period. Finally, Natixis Advisors LLC lifted its position in shares of Seagate Technology by 6.2% in the third quarter. Natixis Advisors LLC now owns 70,117 shares of the data storage provider’s stock valued at $7,680,000 after acquiring an additional 4,094 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $101.36 on Tuesday. The company has a market capitalization of $21.44 billion, a PE ratio of 26.46 and a beta of 1.05. The company has a 50-day simple moving average of $104.69 and a two-hundred day simple moving average of $101.79. Seagate Technology Holdings plc has a one year low of $76.30 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last posted 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 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 analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company posted ($0.34) earnings per share. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 2.84%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s payout ratio is 73.11%.

Analysts Set New Price Targets

Several brokerages have commented on STX. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Northland Securities raised their price objective on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup increased their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note 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 analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $118.83.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The trade was a 19.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Ban Seng Teh sold 4,872 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was 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 directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. This represents a 32.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock valued at $21,892,856 in the last ninety days. Corporate insiders own 0.81% of the company’s stock.

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.