Algert Global LLC Makes New Investment in Seagate Technology Holdings plc (NASDAQ:STX)

Algert Global LLC bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,589 shares of the data storage provider's stock, valued at approximately $612,000.

A number of other institutional investors have also added to or reduced their stakes in STX. Duquesne Family Office LLC lifted its stake in shares of Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider's stock valued at $181,268,000 after buying an additional 316,295 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Seagate Technology by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider's stock valued at $145,447,000 after purchasing an additional 73,267 shares during the last quarter. Dimensional Fund Advisors LP increased 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 worth $105,306,000 after purchasing an additional 9,062 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of Seagate Technology by 3.3% in the third quarter. Primecap Management Co. CA now owns 601,420 shares of the data storage provider's stock worth $65,874,000 after purchasing an additional 19,125 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Seagate Technology by 0.5% in the third quarter. Swiss National Bank now owns 592,000 shares of the data storage provider's stock valued at $64,842,000 after purchasing an additional 2,700 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STX. Rosenblatt Securities increased 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. Benchmark reissued a "hold" rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Wedbush restated an "outperform" rating and issued a $150.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Citigroup increased their price target on Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price objective on Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $118.83.

Seagate Technology Stock Up 1.3 %

Shares of STX stock traded up $1.33 on Friday, reaching $101.33. The company's stock had a trading volume of 1,460,313 shares, compared to its average volume of 1,897,269. Seagate Technology Holdings plc has a 12-month low of $76.87 and a 12-month high of $115.32. The stock's 50 day simple moving average is $104.51 and its 200-day simple moving average is $101.98. The company has a market capitalization of $21.43 billion, a P/E ratio of 26.46 and a beta of 1.05.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share 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 company had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the business earned ($0.34) earnings per share. Seagate Technology's revenue for the quarter was up 49.1% compared to the same quarter last year. Research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.84%. This is an increase from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology's payout ratio is presently 73.11%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the firm'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 sale, the chief executive officer now directly owns 668,616 shares of the company's stock, valued at $73,668,110.88. This trade represents a 17.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,820 shares of company stock worth $21,892,856. 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.