ING Groep NV Purchases 1,805 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

ING Groep NV lifted its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,785 shares of the data storage provider’s stock after purchasing an additional 1,805 shares during the period. ING Groep NV’s holdings in Seagate Technology were worth $2,167,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in Seagate Technology by 68.7% in the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after acquiring an additional 7,150 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Seagate Technology by 2.4% in 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 purchasing an additional 6,044 shares during the period. Versor Investments LP bought a new stake in Seagate Technology during the third quarter valued at about $2,146,000. Lighthouse Investment Partners LLC bought a new position in shares of Seagate Technology during the 2nd quarter valued at approximately $499,000. Finally, Lazard Asset Management LLC increased its holdings in Seagate Technology by 6.9% in the 1st quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock worth $1,266,000 after acquiring an additional 881 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on STX shares. Loop Capital lifted their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. TD Cowen raised their price target on Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. UBS Group upped their price objective on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Northland Securities lifted their target price on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now directly owns 642,497 shares in the company, valued at approximately $63,947,726.41. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at $291,567.40. This represents a 19.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 201,820 shares of company stock worth $21,892,856. Insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $96.79 on Friday. Seagate Technology Holdings plc has a 1-year low of $74.33 and a 1-year high of $115.32. The business’s 50 day moving average is $105.02 and its two-hundred day moving average is $101.34. The stock has a market capitalization of $20.47 billion, a P/E ratio of 25.27 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.34) EPS. As a group, equities research analysts anticipate that Seagate Technology Holdings plc will post 7.35 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. Investors of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.98%. Seagate Technology’s payout ratio is currently 73.11%.

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.