Forte Capital LLC ADV Sells 855 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Forte Capital LLC ADV lowered its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.7% during the fourth quarter, HoldingsChannel reports. The fund owned 22,057 shares of the data storage provider’s stock after selling 855 shares during the quarter. Forte Capital LLC ADV’s holdings in Seagate Technology were worth $1,883,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Seagate Technology during the 4th quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in shares of Seagate Technology in the 4th quarter valued at $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Seagate Technology during the fourth quarter worth $28,000. Parkside Financial Bank & Trust raised its stake in Seagate Technology by 85.4% during the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after buying an additional 205 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Seagate Technology during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded up $1.21 during trading on Friday, hitting $87.50. 1,655,351 shares of the company were exchanged, compared to its average volume of 3,027,261. Seagate Technology Holdings plc has a 52-week low of $54.47 and a 52-week high of $101.26. The stock has a 50 day moving average of $89.18 and a 200 day moving average of $83.53. The company has a market cap of $18.37 billion, a PE ratio of -67.83, a P/E/G ratio of 242.66 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business earned ($0.43) EPS. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. Sell-side analysts forecast that Seagate Technology Holdings plc will post 0.3 EPS for the current fiscal year.

Seagate Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

STX has been the topic of several research analyst reports. Susquehanna upped their target price on Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald lifted their price objective on shares of Seagate Technology from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. UBS Group increased their target price on shares of Seagate Technology from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Mizuho reaffirmed a “buy” rating and issued a $100.00 price target on shares of Seagate Technology in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $94.53.

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.