Oddo BHF Asset Management Sas Invests $7.11 Million in Seagate Technology Holdings plc (NASDAQ:STX)

Oddo BHF Asset Management Sas acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 64,931 shares of the data storage provider’s stock, valued at approximately $7,112,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC acquired a new position in Seagate Technology in the 3rd quarter valued at approximately $26,000. Quarry LP acquired a new position in Seagate Technology in the 2nd quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 337 shares during the period. Family Firm Inc. acquired a new position in Seagate Technology in the 2nd quarter valued at approximately $41,000. Finally, Advisors Asset Management Inc. increased its position in Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 258 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Citigroup upped their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of Seagate Technology 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the sale, the director now owns 6,555 shares of the company’s stock, valued at $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. This trade represents a 13.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,820 shares of company stock worth $23,953,746 over the last quarter. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of STX stock opened at $97.50 on Friday. The firm has a 50-day moving average of $102.80 and a 200-day moving average of $102.14. The company has a market cap of $20.62 billion, a P/E ratio of 25.49 and a beta of 1.03. Seagate Technology Holdings plc has a one year low of $79.39 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its 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. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company posted ($0.34) earnings per share. The firm’s revenue for the quarter was up 49.1% on a year-over-year basis. As a group, research analysts expect that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Seagate Technology 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.