Kestra Investment Management LLC Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Kestra Investment Management LLC acquired a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,568 shares of the data storage provider’s stock, valued at approximately $500,000.

A number of other hedge funds have also bought and sold shares of STX. Captrust Financial Advisors raised its holdings in shares of Seagate Technology by 14.4% in the third quarter. Captrust Financial Advisors now owns 25,364 shares of the data storage provider’s stock worth $2,778,000 after buying an additional 3,188 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Seagate Technology in the third quarter worth $1,238,000. Vinva Investment Management Ltd bought a new stake in shares of Seagate Technology during the third quarter worth $273,000. Public Sector Pension Investment Board boosted its stake in shares of Seagate Technology by 50.1% during the third quarter. Public Sector Pension Investment Board now owns 10,491 shares of the data storage provider’s stock valued at $1,149,000 after purchasing an additional 3,500 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider’s stock worth $143,370,000 after purchasing an additional 1,012,638 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. The trade was a 19.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,820 shares of company stock valued at $21,892,856. Insiders own 0.81% of the company’s stock.

Seagate Technology Trading Up 1.3 %

Shares of STX stock opened at $101.33 on Monday. The company has a market cap of $21.43 billion, a PE ratio of 26.46 and a beta of 1.05. Seagate Technology Holdings plc has a 12-month low of $76.87 and a 12-month high of $115.32. The business’s fifty day simple moving average is $104.51 and its 200-day simple moving average is $102.01.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business posted ($0.34) earnings per share. The firm’s revenue was up 49.1% compared to the same quarter last year. On average, equities analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a yield of 2.84%. Seagate Technology’s dividend payout ratio is presently 73.11%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on STX shares. Citigroup boosted their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Rosenblatt Securities boosted 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. Cantor Fitzgerald restated a “neutral” rating and set a $125.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Northland Securities upped their target price on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $118.83.

About Seagate Technology

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.