Brown Brothers Harriman & Co. Sells 256 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Brown Brothers Harriman & Co. trimmed its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 7.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,070 shares of the data storage provider’s stock after selling 256 shares during the period. Brown Brothers Harriman & Co.’s holdings in Seagate Technology were worth $336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in shares of Seagate Technology in the third quarter worth about $26,000. Quarry LP bought a new stake in Seagate Technology during the 2nd quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares in the last quarter. Family Firm Inc. bought a new position in Seagate Technology in the 2nd quarter valued at $41,000. Finally, Advisors Asset Management Inc. grew its position in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities increased their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $100.00 on Thursday. Seagate Technology Holdings plc has a 52-week low of $76.30 and a 52-week high of $115.32. The company’s 50 day moving average price is $104.68 and its 200-day moving average price is $101.91. The stock has a market capitalization of $21.15 billion, a price-to-earnings ratio of 26.11 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned ($0.34) EPS. The company’s revenue was up 49.1% on a year-over-year basis. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is currently 73.11%.

Insider Buying and Selling at Seagate Technology

In other news, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction dated 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 owns 7,191 shares of the company’s stock, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Insiders sold 201,820 shares of company stock valued at $21,892,856 in the last 90 days. 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.