Raymond James & Associates Boosts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Raymond James & Associates increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 227,667 shares of the data storage provider’s stock after purchasing an additional 5,385 shares during the period. Raymond James & Associates owned approximately 0.11% of Seagate Technology worth $24,936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in STX. Vanguard Group Inc. lifted its stake in Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after purchasing an additional 746,395 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Seagate Technology by 14.5% in the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after buying an additional 337,464 shares during the period. Duquesne Family Office LLC lifted its stake in shares of Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after acquiring an additional 316,295 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Seagate Technology by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after acquiring an additional 9,062 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Seagate Technology by 6.2% during the 1st quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock worth $64,130,000 after acquiring an additional 40,100 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the transaction, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP John Christopher Morris sold 1,131 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the company’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 transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 218,398 shares of company stock worth $23,238,106 over the last quarter. Company insiders own 0.89% of the company’s stock.

Seagate Technology Trading Up 0.4 %

Shares of STX opened at $103.98 on Friday. The company has a market cap of $21.83 billion, a price-to-earnings ratio of -80.60 and a beta of 1.04. The business’s fifty day simple moving average is $105.13 and its two-hundred day simple moving average is $99.58. Seagate Technology Holdings plc has a 12 month low of $64.12 and a 12 month high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted ($0.34) earnings per share. Seagate Technology’s revenue was up 49.1% compared to the same quarter last year. As a group, research analysts forecast that Seagate Technology Holdings plc will post 7.09 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.77%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s payout ratio is presently -217.05%.

Analyst Ratings Changes

Several analysts have weighed in on STX shares. Citigroup boosted their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their price target on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. UBS Group boosted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Northland Securities raised their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Loop Capital lifted their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Seagate Technology presently has an average rating of “Hold” and a consensus 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.