Natixis Advisors LLC raised its position in Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 6.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 70,117 shares of the data storage provider’s stock after purchasing an additional 4,094 shares during the quarter. Natixis Advisors LLC’s holdings in Seagate Technology were worth $7,680,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in Seagate Technology by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after buying an additional 89 shares in the last quarter. CWM LLC lifted its position in shares of Seagate Technology by 3.0% during the second quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock worth $342,000 after purchasing an additional 97 shares in the last quarter. Affinity Capital Advisors LLC lifted its position in shares of Seagate Technology by 1.5% during the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after purchasing an additional 100 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of Seagate Technology by 3.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after purchasing an additional 122 shares in the last quarter. Finally, Burney Co. lifted its position 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 worth $367,000 after purchasing an additional 125 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Seagate Technology
In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was 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 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 SEC, which is accessible through this link. Also, EVP Ban Seng Teh sold 4,872 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the sale, the executive vice president now owns 9,969 shares in the company, valued at $1,096,590. The trade was a 32.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 201,820 shares of company stock worth $21,892,856. 0.81% of the stock is owned by company insiders.
Analyst Ratings Changes
STX has been the topic of a number of research reports. Evercore ISI upped their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Citigroup upped their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities increased their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.
Check Out Our Latest Report on STX
Seagate Technology Stock Performance
Shares of STX opened at $99.91 on Friday. The stock has a 50 day simple moving average of $104.76 and a 200 day simple moving average of $101.57. Seagate Technology Holdings plc has a 52-week low of $75.64 and a 52-week high of $115.32. The firm has a market capitalization of $21.13 billion, a PE ratio of 26.09 and a beta of 1.05.
Seagate Technology (NASDAQ:STX – Get Free Report) 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. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm earned ($0.34) EPS. Seagate Technology’s quarterly revenue was up 49.1% compared to the same quarter last year. Equities research analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.
Seagate Technology Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a $0.72 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.88%. Seagate Technology’s payout ratio is currently 75.20%.
Seagate Technology Profile
(Free Report)
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.
Further Reading
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