World Investment Advisors LLC Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

World Investment Advisors LLC acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,983 shares of the data storage provider’s stock, valued at approximately $217,000.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in Seagate Technology by 5.2% in the second quarter. Assenagon Asset Management S.A. now owns 8,363 shares of the data storage provider’s stock valued at $864,000 after buying an additional 416 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in shares of Seagate Technology by 5.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 23,491 shares of the data storage provider’s stock valued at $2,440,000 after purchasing an additional 1,156 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Seagate Technology in the 2nd quarter worth approximately $213,000. Family Firm Inc. acquired a new stake in Seagate Technology in the 2nd quarter worth approximately $41,000. Finally, Sigma Investment Counselors Inc. purchased a new stake in Seagate Technology during the 2nd quarter worth approximately $216,000. Institutional investors own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 642,497 shares in the company, valued at $63,947,726.41. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,961 shares of company stock valued at $23,967,629 in the last three months. 0.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Northland Securities increased their price objective on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Evercore ISI upped their target price on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Two investment 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Stock Performance

Shares of NASDAQ STX opened at $87.54 on Friday. The company has a market capitalization of $18.52 billion, a PE ratio of 22.86 and a beta of 1.03. The company’s fifty day moving average price is $101.31 and its 200 day moving average price is $102.09. Seagate Technology Holdings plc has a 1 year low of $79.39 and a 1 year high of $115.32.

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, topping 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 business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company posted ($0.34) EPS. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. On average, equities analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a $0.72 dividend. The ex-dividend date 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 3.29%. Seagate Technology’s payout ratio is 75.20%.

Seagate Technology Company 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.