Thrivent Financial for Lutherans Acquires 402 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Thrivent Financial for Lutherans increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,877 shares of the data storage provider’s stock after buying an additional 402 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Seagate Technology were worth $1,191,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in STX. Point72 Hong Kong Ltd purchased a new position in shares of Seagate Technology during the 2nd quarter valued at about $35,349,000. Duquesne Family Office LLC raised its stake in Seagate Technology by 22.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after acquiring an additional 316,295 shares during the period. Mizuho Markets Americas LLC purchased a new position in Seagate Technology during the third quarter valued at approximately $32,598,000. AQR Capital Management LLC boosted its position in shares of Seagate Technology by 519.1% in the second quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider’s stock worth $33,398,000 after purchasing an additional 271,160 shares during the period. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of Seagate Technology in the second quarter worth $24,635,000. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of research analyst reports. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. Northland Securities raised their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities boosted their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Benchmark restated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Citigroup boosted their target price on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating 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 issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.83.

Seagate Technology Stock Up 1.3 %

STX stock opened at $101.33 on Monday. The firm’s fifty day simple moving average is $104.51 and its two-hundred day simple moving average is $102.01. The stock has a market capitalization of $21.43 billion, a price-to-earnings ratio of 26.46 and a beta of 1.05. Seagate Technology Holdings plc has a twelve month low of $76.87 and a twelve month high of $115.32.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned ($0.34) earnings per share. The firm’s quarterly revenue was up 49.1% compared to the same quarter last year. As a group, equities research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, December 13th. Seagate Technology’s payout ratio is currently 73.11%.

Insider Buying and Selling

In related news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at $291,567.40. The trade was a 19.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Kian Fatt Chong sold 9,182 shares of the stock in a transaction dated 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. Insiders have sold 201,820 shares of company stock valued at $21,892,856 in the last 90 days. Company insiders own 0.81% of the company’s stock.

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.