Quantbot Technologies LP Buys New Position in Seagate Technology Holdings plc (NASDAQ:STX)

Quantbot Technologies LP bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 34,689 shares of the data storage provider’s stock, valued at approximately $3,799,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. West Tower Group LLC acquired a new position in Seagate Technology in the 3rd quarter valued at about $110,000. The Manufacturers Life Insurance Company grew its holdings in Seagate Technology by 4.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 126,374 shares of the data storage provider’s stock valued at $13,842,000 after buying an additional 5,246 shares during the period. Qsemble Capital Management LP purchased a new stake in Seagate Technology in the 3rd quarter valued at about $2,131,000. Mirabella Financial Services LLP grew its holdings in Seagate Technology by 116.7% in the 3rd quarter. Mirabella Financial Services LLP now owns 22,950 shares of the data storage provider’s stock valued at $2,474,000 after buying an additional 12,360 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Seagate Technology in the 3rd quarter valued at about $110,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Buying and Selling

In related news, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the transaction, the senior vice president now directly owns 7,191 shares in the company, valued at $804,672.90. This represents a 13.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now owns 668,616 shares of the company’s stock, 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. Insiders sold a total of 201,820 shares of company stock worth $21,892,856 in the last three months. 0.81% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on STX shares. Wedbush restated an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities lifted their price target on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Evercore ISI boosted their target price on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Trading Up 0.3 %

STX stock opened at $101.66 on Wednesday. The firm has a market cap of $21.50 billion, a P/E ratio of 26.54 and a beta of 1.05. Seagate Technology Holdings plc has a 12-month low of $76.30 and a 12-month high of $115.32. The stock’s 50 day simple moving average is $104.69 and its 200 day simple moving average is $101.86.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s revenue was up 49.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) EPS. On average, research analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS 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 paid a dividend of $0.72 per share. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently 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.