Strategic Wealth Partners Ltd. Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Strategic Wealth Partners Ltd. acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 33,209 shares of the data storage provider’s stock, valued at approximately $3,637,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in Seagate Technology by 1.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 136,111 shares of the data storage provider’s stock valued at $11,620,000 after acquiring an additional 1,419 shares in the last quarter. Putnam Investments LLC boosted its stake in Seagate Technology by 124.3% in the fourth quarter. Putnam Investments LLC now owns 680,456 shares of the data storage provider’s stock valued at $58,091,000 after acquiring an additional 377,148 shares in the last quarter. Redwood Investment Management LLC acquired a new stake in Seagate Technology in the fourth quarter valued at approximately $2,183,000. Clear Street Markets LLC lifted its stake in shares of Seagate Technology by 150.0% during the fourth quarter. Clear Street Markets LLC now owns 2,000 shares of the data storage provider’s stock worth $171,000 after buying an additional 1,200 shares during the period. Finally, V Square Quantitative Management LLC lifted its stake in shares of Seagate Technology by 4.9% during the fourth quarter. V Square Quantitative Management LLC now owns 4,517 shares of the data storage provider’s stock worth $386,000 after buying an additional 213 shares during the period. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were 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 directly owns 668,616 shares in the company, valued at $73,668,110.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 223,284 shares of company stock worth $23,800,887 in the last ninety days. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on STX shares. Robert W. Baird lifted their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Northland Securities raised their target price on shares of Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $115.94.

Seagate Technology Stock Performance

STX opened at $108.65 on Wednesday. Seagate Technology Holdings plc has a twelve month low of $64.12 and a twelve month high of $113.57. The firm’s 50-day moving average price is $101.88 and its 200 day moving average price is $98.16.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. Seagate Technology’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) earnings per share. As a group, sell-side analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.80 annualized dividend and a yield of 2.58%. Seagate Technology’s payout ratio is -217.05%.

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.