Strategy Asset Managers LLC Makes New $667,000 Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Strategy Asset Managers LLC bought a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,092 shares of the data storage provider’s stock, valued at approximately $667,000.

A number of other institutional investors have also made changes to their positions in STX. Bessemer Group Inc. grew its holdings in shares of Seagate Technology by 68.7% during the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock valued at $1,634,000 after purchasing an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Seagate Technology by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after buying an additional 6,044 shares during the last quarter. Victory Capital Management Inc. grew its stake in Seagate Technology by 133.8% during the 3rd quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock worth $18,834,000 after buying an additional 98,418 shares during the last quarter. Versor Investments LP bought a new stake in Seagate Technology in the third quarter valued at $2,146,000. Finally, Lighthouse Investment Partners LLC bought a new stake in Seagate Technology in the second quarter valued at $499,000. 92.87% of the stock is currently owned by institutional investors.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction 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. This represents a 17.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. In the last ninety days, insiders have 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 research firms recently weighed in on STX. Rosenblatt Securities increased their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price target on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. TD Cowen boosted their price objective on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Northland Securities boosted their price target on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Seagate Technology currently has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Up 0.2 %

STX stock opened at $98.02 on Thursday. The company has a 50 day moving average of $104.85 and a two-hundred day moving average of $101.59. Seagate Technology Holdings plc has a 12-month low of $75.52 and a 12-month high of $115.32. The company has a market cap of $20.73 billion, a price-to-earnings ratio of 25.59 and a beta of 1.05.

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

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This is a positive change 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 dividend yield of 2.94%. Seagate Technology’s dividend payout ratio is currently 73.11%.

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.