Vinva Investment Management Ltd Purchases New Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Vinva Investment Management Ltd acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,515 shares of the data storage provider’s stock, valued at approximately $273,000.

Other large investors also recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of Seagate Technology by 24.5% in the first quarter. Tidal Investments LLC now owns 4,289 shares of the data storage provider’s stock valued at $399,000 after buying an additional 844 shares in the last quarter. Swedbank AB purchased a new stake in shares of Seagate Technology during the first quarter valued at approximately $3,456,000. Burney Co. raised its stake in shares of Seagate Technology by 3.3% during the first quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock valued at $367,000 after purchasing an additional 125 shares during the period. Cetera Investment Advisers lifted its position in shares of Seagate Technology by 77.5% during the first quarter. Cetera Investment Advisers now owns 55,643 shares of the data storage provider’s stock worth $5,178,000 after purchasing an additional 24,287 shares in the last quarter. Finally, Cetera Advisors LLC boosted its stake in shares of Seagate Technology by 129.4% in the first quarter. Cetera Advisors LLC now owns 13,036 shares of the data storage provider’s stock valued at $1,213,000 after purchasing an additional 7,353 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The trade was a 19.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was 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 $73,668,110.88. The trade was a 17.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 201,820 shares of company stock valued at $21,892,856. Insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

STX has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Rosenblatt Securities increased their price target on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Trading Up 1.3 %

Shares of NASDAQ STX opened at $101.33 on Friday. Seagate Technology Holdings plc has a 12-month low of $76.87 and a 12-month high of $115.32. The company has a market cap of $21.43 billion, a price-to-earnings ratio of 26.46 and a beta of 1.05. The stock’s 50 day simple moving average is $104.51 and its 200 day simple moving average is $101.98.

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 analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the business posted ($0.34) earnings per share. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. As a group, equities analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal 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 $0.72 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.84%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is presently 75.20%.

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.