Nemes Rush Group LLC Sells 628 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Nemes Rush Group LLC cut its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,581 shares of the data storage provider’s stock after selling 628 shares during the quarter. Nemes Rush Group LLC’s holdings in Seagate Technology were worth $135,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of STX. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Seagate Technology in the fourth quarter worth $26,000. CVA Family Office LLC purchased a new stake in Seagate Technology in the fourth quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Seagate Technology in the fourth quarter worth $28,000. Parkside Financial Bank & Trust increased its stake in Seagate Technology by 85.4% in the third quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 205 shares during the period. Finally, Northwest Financial Advisors purchased a new stake in Seagate Technology in the fourth quarter worth $31,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Performance

STX traded up $0.80 on Wednesday, hitting $94.40. The company had a trading volume of 613,972 shares, compared to its average volume of 2,699,859. The stock has a fifty day moving average price of $89.29 and a 200-day moving average price of $85.80. Seagate Technology Holdings plc has a 12-month low of $57.06 and a 12-month high of $101.26. The stock has a market capitalization of $19.82 billion, a price-to-earnings ratio of -73.21, a P/E/G ratio of 198.04 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results 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 business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. Seagate Technology’s revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.43) EPS. Analysts forecast that Seagate Technology Holdings plc will post 0.4 EPS for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.97%. 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 analysts have weighed in on STX shares. TD Cowen increased their target price on Seagate Technology from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley upgraded Seagate Technology from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $73.00 to $115.00 in a research note on Tuesday, March 26th. The Goldman Sachs Group raised their price target on Seagate Technology from $84.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company raised their price target on Seagate Technology from $80.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Finally, Evercore ISI started coverage on Seagate Technology in a research note on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Seagate Technology currently has an average rating of “Hold” and a consensus target price of $95.50.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the completion of the sale, the executive vice president now owns 15,185 shares of the company’s stock, valued at $1,442,575. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the sale, the executive vice president now owns 15,185 shares of the company’s stock, valued at $1,442,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now directly owns 17,767 shares of the company’s stock, valued at approximately $1,599,030. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.

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.