Synovus Financial Corp Buys 1,087 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Synovus Financial Corp lifted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 36.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,054 shares of the data storage provider’s stock after purchasing an additional 1,087 shares during the period. Synovus Financial Corp’s holdings in Seagate Technology were worth $444,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of STX. Point72 Asset Management L.P. purchased a new position in shares of Seagate Technology during the third quarter valued at $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Seagate Technology by 341.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after acquiring an additional 1,012,638 shares in the last quarter. State Street Corp increased its position in Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after purchasing an additional 541,585 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Seagate Technology in the 2nd quarter valued at about $35,349,000. Finally, Geode Capital Management LLC lifted its position in shares of Seagate Technology by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock worth $454,477,000 after purchasing an additional 318,416 shares during the period. 92.87% of the stock is currently owned by hedge funds and other institutional investors.

Seagate Technology Stock Down 3.1 %

Seagate Technology stock opened at $91.60 on Thursday. The business’s 50-day moving average price is $101.72 and its 200 day moving average price is $102.19. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 23.92 and a beta of 1.03. Seagate Technology Holdings plc has a 52 week low of $79.39 and a 52 week high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its earnings results 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. 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 analysts’ expectations of $2.13 billion. During the same period in the previous year, the business posted ($0.34) EPS. The business’s revenue was up 49.1% compared to the same quarter last year. Equities analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 3.14%. Seagate Technology’s dividend payout ratio is presently 75.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Northland Securities upped their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.83.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction dated 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 sale, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. This trade represents a 17.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 221,961 shares of company stock worth $23,967,629. 0.81% of the stock is owned by corporate insiders.

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.