Mengis Capital Management Inc. Has $752,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

Mengis Capital Management Inc. cut its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 2.8% during the third quarter, Holdings Channel reports. The institutional investor owned 6,870 shares of the data storage provider’s stock after selling 200 shares during the quarter. Mengis Capital Management Inc.’s holdings in Seagate Technology were worth $752,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Seagate Technology during the third quarter worth about $26,000. Quarry LP bought a new stake in shares of Seagate Technology during the second quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after buying an additional 337 shares in the last quarter. Family Firm Inc. acquired a new position in Seagate Technology during the 2nd quarter worth about $41,000. Finally, JFS Wealth Advisors LLC grew its holdings in Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP John Christopher Morris sold 1,131 shares of the 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 completion of the transaction, the senior vice president now directly owns 7,191 shares in the company, valued at $804,672.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,820 shares of company stock worth $21,892,856. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

NASDAQ STX opened at $99.80 on Wednesday. Seagate Technology Holdings plc has a one year low of $71.67 and a one year high of $115.32. The firm has a market cap of $21.11 billion, a P/E ratio of 26.06 and a beta of 1.05. The stock’s 50-day moving average is $105.16 and its 200-day moving average is $101.20.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company posted ($0.34) EPS. The business’s quarterly revenue was up 49.1% on a year-over-year basis. Equities analysts anticipate that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a $0.72 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%. Seagate Technology’s dividend payout ratio is presently 75.20%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on STX shares. Rosenblatt Securities boosted their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Barclays increased their price objective on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Northland Securities upped their price target on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Wedbush restated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.83.

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.