Forte Capital LLC ADV Reduces Position in Seagate Technology Holdings plc (NASDAQ:STX)

Forte Capital LLC ADV decreased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,057 shares of the data storage provider’s stock after selling 855 shares during the period. Forte Capital LLC ADV’s holdings in Seagate Technology were worth $1,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Seagate Technology during the 4th quarter worth approximately $26,000. CVA Family Office LLC purchased a new position in Seagate Technology during the 4th quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Seagate Technology in the 4th quarter worth $28,000. Parkside Financial Bank & Trust boosted its holdings in shares of Seagate Technology by 85.4% in the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 205 shares in the last quarter. Finally, Valley National Advisers Inc. increased its stake in shares of Seagate Technology by 39.7% during the fourth quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Up 1.4 %

NASDAQ STX traded up $1.21 during mid-day trading on Friday, reaching $87.50. 1,655,351 shares of the company’s stock traded hands, compared to its average volume of 3,027,261. The company has a fifty day simple moving average of $89.18 and a 200-day simple moving average of $83.53. Seagate Technology Holdings plc has a 1-year low of $54.47 and a 1-year high of $101.26. The company has a market cap of $18.37 billion, a price-to-earnings ratio of -67.83, a P/E/G ratio of 242.66 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned ($0.43) earnings per share. Seagate Technology’s revenue was down 11.0% on a year-over-year basis. Equities research analysts forecast that Seagate Technology Holdings plc will post 0.3 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s dividend payout ratio is presently -217.05%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. UBS Group raised their target price on Seagate Technology from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Susquehanna upped their target price on shares of Seagate Technology from $50.00 to $55.00 and gave the stock a “negative” rating in a research report on Wednesday, April 10th. Barclays dropped their target price on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, April 22nd. Morgan Stanley raised Seagate Technology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $73.00 to $115.00 in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company lifted their price objective on Seagate Technology from $80.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $94.53.

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.