4,309 Shares in Seagate Technology Holdings plc (NASDAQ:STX) Purchased by Nwam LLC

Nwam LLC purchased a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,309 shares of the data storage provider’s stock, valued at approximately $472,000.

Several other hedge funds have also recently added to or reduced their stakes in STX. CreativeOne Wealth LLC acquired a new position in Seagate Technology in the first quarter worth about $259,000. Lazard Asset Management LLC grew its stake in Seagate Technology by 6.9% during the first quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider’s stock worth $1,266,000 after buying an additional 881 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Seagate Technology by 2.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after buying an additional 6,044 shares during the last quarter. SVB Wealth LLC grew its stake in Seagate Technology by 18.7% during the first quarter. SVB Wealth LLC now owns 6,273 shares of the data storage provider’s stock worth $584,000 after buying an additional 987 shares during the last quarter. Finally, Ascent Group LLC grew its stake in Seagate Technology by 4.2% during the first quarter. Ascent Group LLC now owns 12,534 shares of the data storage provider’s stock worth $1,166,000 after buying an additional 507 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Kian Fatt Chong sold 9,182 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 668,616 shares in the company, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,820 shares of company stock worth $21,892,856. Company insiders own 0.81% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX stock opened at $99.62 on Monday. Seagate Technology Holdings plc has a 52-week low of $75.64 and a 52-week high of $115.32. The stock has a market cap of $21.07 billion, a PE ratio of 26.01 and a beta of 1.05. The firm’s 50 day moving average price is $104.69 and its two-hundred day moving average price is $101.71.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period last year, the business posted ($0.34) earnings per share. As a group, sell-side analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.89%. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Northland Securities upped their price objective on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating 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 stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $118.83.

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.