Forte Capital LLC ADV Has $3.17 Million Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Forte Capital LLC ADV boosted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 29.8% in the third quarter, HoldingsChannel reports. The fund owned 28,972 shares of the data storage provider’s stock after buying an additional 6,653 shares during the quarter. Forte Capital LLC ADV’s holdings in Seagate Technology were worth $3,173,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in STX. M&G PLC boosted its stake in shares of Seagate Technology by 2.7% during the 3rd quarter. M&G PLC now owns 148,370 shares of the data storage provider’s stock valued at $16,321,000 after buying an additional 3,943 shares during the period. Pittenger & Anderson Inc. purchased a new position in Seagate Technology in the third quarter valued at about $274,000. Amalgamated Bank increased its position in Seagate Technology by 4.3% in the 3rd quarter. Amalgamated Bank now owns 30,226 shares of the data storage provider’s stock worth $3,311,000 after purchasing an additional 1,235 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Seagate Technology by 1.8% during the 3rd quarter. QRG Capital Management Inc. now owns 10,330 shares of the data storage provider’s stock worth $1,131,000 after purchasing an additional 183 shares in the last quarter. Finally, Vestor Capital LLC grew its stake in shares of Seagate Technology by 55.5% in the 3rd quarter. Vestor Capital LLC now owns 689 shares of the data storage provider’s stock valued at $75,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Up 1.3 %

STX stock opened at $102.98 on Thursday. The business’s 50-day simple moving average is $104.80 and its 200 day simple moving average is $100.64. The company has a market cap of $21.78 billion, a PE ratio of 26.89 and a beta of 1.05. Seagate Technology Holdings plc has a twelve month low of $70.31 and a twelve month high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (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 for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the business posted ($0.34) earnings per share. Seagate Technology’s quarterly revenue was up 49.1% on a year-over-year basis. On average, equities research analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is 73.11%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Loop Capital lifted their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. UBS Group lifted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. TD Cowen increased their target price on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Rosenblatt Securities increased their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $118.83.

Insiders Place Their Bets

In other news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was 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 in the company, valued at $804,672.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,638 shares of company stock worth $20,924,155 over the last quarter. Company insiders own 0.81% of the company’s stock.

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.