Worldquant Millennium Advisors LLC Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Worldquant Millennium Advisors LLC purchased a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,463 shares of the data storage provider's stock, valued at approximately $1,036,000.

A number of other large investors have also recently added to or reduced their stakes in STX. Sequoia Financial Advisors LLC increased its position in Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider's stock worth $281,000 after acquiring an additional 89 shares during the period. CWM LLC increased its position in Seagate Technology by 3.0% during the second quarter. CWM LLC now owns 3,307 shares of the data storage provider's stock worth $342,000 after acquiring an additional 97 shares during the period. Affinity Capital Advisors LLC increased its position in Seagate Technology by 1.5% during the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider's stock worth $725,000 after acquiring an additional 100 shares during the period. Forum Financial Management LP increased its position in Seagate Technology by 4.0% during the second quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider's stock worth $333,000 after acquiring an additional 125 shares during the period. Finally, Pinnacle West Asset Management Inc. increased its position in Seagate Technology by 2.5% during the second quarter. Pinnacle West Asset Management Inc. now owns 5,190 shares of the data storage provider's stock worth $536,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Buying and Selling at Seagate Technology

In related news, SVP John Christopher Morris sold 1,131 shares of the business's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the transaction, the senior vice president now directly owns 7,191 shares of the company's stock, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ban Seng Teh sold 4,872 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the sale, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. This trade represents a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,820 shares of company stock worth $23,953,746. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Price Performance

Shares of NASDAQ:STX traded up $0.46 during mid-day trading on Monday, hitting $98.97. The company had a trading volume of 2,437,145 shares, compared to its average volume of 2,484,655. The firm has a fifty day moving average price of $103.64 and a 200 day moving average price of $102.13. The company has a market capitalization of $20.94 billion, a PE ratio of 25.72 and a beta of 1.03. Seagate Technology Holdings plc has a one year low of $79.39 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology's revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) EPS. Research analysts expect that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The firm 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 represents a $2.88 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's payout ratio is 73.11%.

Analysts Set New Price Targets

STX has been the topic of several recent analyst reports. Evercore ISI raised their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Benchmark reissued a "hold" rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities raised their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Citigroup raised their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $118.83.

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.