Yousif Capital Management LLC Sells 346 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Yousif Capital Management LLC lessened its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,248 shares of the data storage provider’s stock after selling 346 shares during the period. Yousif Capital Management LLC’s holdings in Seagate Technology were worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in STX. International Private Wealth Advisors LLC increased its position in shares of Seagate Technology by 13.7% during the first quarter. International Private Wealth Advisors LLC now owns 2,664 shares of the data storage provider’s stock worth $226,000 after purchasing an additional 321 shares in the last quarter. Tounjian Advisory Partners LLC acquired a new position in Seagate Technology during the 1st quarter valued at about $777,000. Farther Finance Advisors LLC raised its stake in Seagate Technology by 22.6% in the first quarter. Farther Finance Advisors LLC now owns 5,791 shares of the data storage provider’s stock valued at $490,000 after buying an additional 1,067 shares during the last quarter. Range Financial Group LLC raised its position in shares of Seagate Technology by 11.1% in the 1st quarter. Range Financial Group LLC now owns 32,280 shares of the data storage provider’s stock valued at $2,742,000 after purchasing an additional 3,232 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Seagate Technology during the first quarter worth $50,792,000. 92.87% of the stock is currently owned by institutional investors.

Insider Activity

In other Seagate Technology news, Director Stephanie Tilenius sold 2,693 shares of Seagate Technology stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $128.04, for a total transaction of $344,811.72. Following the completion of the sale, the director now directly owns 12,244 shares in the company, valued at $1,567,721.76. This trade represents a 18.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $117.01, for a total transaction of $87,757.50. Following the completion of the transaction, the director now owns 5,055 shares in the company, valued at approximately $591,485.55. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 393,192 shares of company stock valued at $46,303,128 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Seagate Technology in a report on Friday, May 23rd. Wall Street Zen downgraded shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Wells Fargo & Company raised their target price on Seagate Technology from $105.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday, May 23rd. Citigroup lifted their price target on Seagate Technology from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Finally, BNP Paribas Exane upgraded Seagate Technology from an “underperform” rating to a “neutral” rating and set a $100.00 price target on the stock in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.42.

Seagate Technology Trading Up 1.0%

Shares of NASDAQ STX opened at $127.27 on Friday. The stock has a market cap of $27.01 billion, a PE ratio of 23.27 and a beta of 1.40. Seagate Technology Holdings plc has a 12-month low of $63.19 and a 12-month high of $132.23. The company has a 50-day moving average of $98.91 and a 200 day moving average of $95.07.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, April 29th. The data storage provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Seagate Technology had a negative return on equity of 63.48% and a net margin of 14.67%. The business’s revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. On average, sell-side analysts forecast that Seagate Technology Holdings plc will post 6.83 EPS for the current fiscal year.

Seagate Technology declared that its board has approved a share repurchase program on Thursday, May 22nd that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the data storage provider to purchase up to 21.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Wednesday, June 25th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, June 25th. This represents a $2.88 annualized dividend and a yield of 2.26%. Seagate Technology’s payout ratio is 41.62%.

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.