Seagate Technology Holdings plc (NASDAQ:STX) Shares Purchased by Swiss National Bank

Swiss National Bank raised its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 592,000 shares of the data storage provider’s stock after purchasing an additional 2,700 shares during the period. Swiss National Bank’s holdings in Seagate Technology were worth $64,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Seagate Technology during the third quarter worth approximately $26,000. Quarry LP purchased a new position in Seagate Technology in the second quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 337 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of Seagate Technology in the 2nd quarter valued at approximately $41,000. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction on Friday, November 8th. The stock was 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. Over the last 90 days, insiders sold 201,820 shares of company stock valued at $21,892,856. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STX. The Goldman Sachs Group boosted their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Robert W. Baird increased their price objective on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. UBS Group boosted their target price on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Citigroup increased their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Two 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Stock Up 0.8 %

Shares of STX stock opened at $97.80 on Wednesday. The stock has a market cap of $20.69 billion, a P/E ratio of 25.54 and a beta of 1.05. Seagate Technology Holdings plc has a fifty-two week low of $75.52 and a fifty-two week high of $115.32. The business has a fifty day simple moving average of $104.94 and a 200-day simple moving average of $101.52.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm posted ($0.34) EPS. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders 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 2.94%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is 73.11%.

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.