Seagate Technology Holdings plc (NASDAQ:STX) Shares Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,720 shares of the data storage provider’s stock after buying an additional 192 shares during the period. Contravisory Investment Management Inc.’s holdings in Seagate Technology were worth $666,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Park Avenue Securities LLC lifted its position in Seagate Technology by 5.9% in the fourth quarter. Park Avenue Securities LLC now owns 6,012 shares of the data storage provider’s stock valued at $519,000 after acquiring an additional 333 shares during the last quarter. Tealwood Asset Management Inc. raised its stake in shares of Seagate Technology by 0.7% during the fourth quarter. Tealwood Asset Management Inc. now owns 28,620 shares of the data storage provider’s stock worth $2,470,000 after purchasing an additional 198 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in shares of Seagate Technology by 3.7% in the 4th quarter. AdvisorNet Financial Inc now owns 3,377 shares of the data storage provider’s stock valued at $291,000 after purchasing an additional 122 shares in the last quarter. Elevated Capital Advisors LLC grew its holdings in Seagate Technology by 6.4% in the fourth quarter. Elevated Capital Advisors LLC now owns 11,787 shares of the data storage provider’s stock valued at $1,017,000 after purchasing an additional 711 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of Seagate Technology by 7.2% during the 4th quarter. Czech National Bank now owns 45,864 shares of the data storage provider’s stock worth $3,959,000 after purchasing an additional 3,087 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Activity

In other news, SVP John Christopher Morris sold 1,131 shares of the 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 sale, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. This represents a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jay L. Geldmacher sold 4,100 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total value of $423,530.00. Following the sale, the director now owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. The trade was a 58.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,304 shares of company stock worth $5,656,238. Corporate insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

STX has been the topic of several analyst reports. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a report on Tuesday. Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Northland Securities boosted their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Rosenblatt Securities raised their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.53.

Seagate Technology Trading Up 3.4 %

Shares of Seagate Technology stock opened at $94.34 on Thursday. Seagate Technology Holdings plc has a 1-year low of $82.31 and a 1-year high of $115.32. The firm has a fifty day simple moving average of $94.75 and a 200-day simple moving average of $100.40. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 24.63 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data 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. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the business earned ($0.34) earnings per share. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. As a group, research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Sunday, December 15th were issued a $0.72 dividend. The ex-dividend date was 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 3.05%. Seagate Technology’s dividend payout ratio is presently 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.