Seagate Technology Holdings plc (NASDAQ:STX) Position Increased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 45.9% during the 3rd quarter, Holdings Channel reports. The fund owned 7,528 shares of the data storage provider’s stock after purchasing an additional 2,370 shares during the period. Contravisory Investment Management Inc.’s holdings in Seagate Technology were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Clear Street Markets LLC increased its position in shares of Seagate Technology by 150.0% during the 4th quarter. Clear Street Markets LLC now owns 2,000 shares of the data storage provider’s stock valued at $171,000 after purchasing an additional 1,200 shares during the period. V Square Quantitative Management LLC increased its position in shares of Seagate Technology by 4.9% during the 4th quarter. V Square Quantitative Management LLC now owns 4,517 shares of the data storage provider’s stock valued at $386,000 after purchasing an additional 213 shares during the period. Integrated Advisors Network LLC increased its position in shares of Seagate Technology by 46.2% during the 4th quarter. Integrated Advisors Network LLC now owns 5,833 shares of the data storage provider’s stock valued at $498,000 after purchasing an additional 1,843 shares during the period. Counterweight Ventures LLC acquired a new position in shares of Seagate Technology during the 4th quarter valued at $320,000. Finally, American International Group Inc. increased its position in shares of Seagate Technology by 1.0% during the 4th quarter. American International Group Inc. now owns 95,401 shares of the data storage provider’s stock valued at $8,144,000 after purchasing an additional 958 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $108.12 on Friday. The stock has a 50-day simple moving average of $102.21 and a 200-day simple moving average of $98.31. Seagate Technology Holdings plc has a 52-week low of $64.12 and a 52-week high of $113.57. The firm has a market cap of $22.76 billion, a price-to-earnings ratio of 70.21 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. Seagate Technology’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.29) EPS. As a group, equities research analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 23rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Monday, September 23rd. Seagate Technology’s payout ratio is 181.82%.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the completion of the sale, the chief executive officer now directly owns 648,616 shares of the company’s stock, valued at approximately $69,842,970.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO William D. Mosley sold 141,785 shares of the company’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 transaction of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total value of $2,153,600.00. Following the completion of the sale, the chief executive officer now directly owns 648,616 shares of the company’s stock, valued at $69,842,970.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 223,284 shares of company stock worth $23,800,887. 0.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald lifted their target price on Seagate Technology from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Robert W. Baird lifted their target price on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays lifted their target price on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Evercore ISI lifted their target price on Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, Rosenblatt Securities lifted their target price on Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Seagate Technology has an average rating of “Hold” and an average price target of $115.94.

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.