GM Advisory Group LLC Acquires Shares of 1,915 Seagate Technology Holdings plc (NASDAQ:STX)

GM Advisory Group LLC bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,915 shares of the data storage provider’s stock, valued at approximately $210,000.

Several other hedge funds have also made changes to their positions in STX. Point72 Hong Kong Ltd purchased a new stake in Seagate Technology during the 2nd quarter valued at approximately $35,349,000. Duquesne Family Office LLC increased its stake in Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after buying an additional 316,295 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Seagate Technology in the 3rd quarter worth $32,598,000. AQR Capital Management LLC increased its stake in shares of Seagate Technology by 519.1% during the second quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider’s stock worth $33,398,000 after acquiring an additional 271,160 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new position in Seagate Technology during the second quarter worth about $24,635,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Northland Securities boosted their target price on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Citigroup increased their price objective on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald restated a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Rosenblatt Securities upped their price target 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.83.

Insider Transactions at Seagate Technology

In other news, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ban Seng Teh sold 4,872 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the sale, the executive vice president now directly owns 9,969 shares in the company, valued at $1,096,590. This represents a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 201,820 shares of company stock worth $21,892,856 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Performance

STX stock opened at $99.62 on Friday. The stock’s 50 day moving average price is $104.74 and its 200 day moving average price is $101.56. The firm has a market cap of $21.07 billion, a P/E ratio of 26.01 and a beta of 1.05. Seagate Technology Holdings plc has a 1 year low of $75.64 and a 1 year high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s revenue was up 49.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.34) earnings per share. On average, research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is currently 73.11%.

Seagate Technology 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.