CWA Asset Management Group LLC Invests $992,000 in Seagate Technology Holdings plc (NASDAQ:STX)

CWA Asset Management Group LLC bought a new position 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 and Exchange Commission. The institutional investor bought 9,058 shares of the data storage provider's stock, valued at approximately $992,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STX. Vanguard Group Inc. boosted its position 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 valued at $2,303,274,000 after buying an additional 746,395 shares in the last quarter. Clearbridge Investments LLC raised its position 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 valued at $247,218,000 after purchasing an additional 337,464 shares during the period. Duquesne Family Office LLC raised its position 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 purchasing an additional 316,295 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Seagate Technology by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider's stock valued at $105,306,000 after purchasing an additional 9,062 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Seagate Technology by 6.2% during the first 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 period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Trading Down 2.9 %

NASDAQ:STX traded down $3.01 during trading hours on Monday, hitting $101.77. 961,611 shares of the stock traded hands, compared to its average volume of 2,494,673. Seagate Technology Holdings plc has a fifty-two week low of $71.67 and a fifty-two week high of $115.32. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 27.36 and a beta of 1.05. The firm has a 50 day moving average price of $105.06 and a 200 day moving average price of $101.00.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.28. The business 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%. The firm's revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.34) earnings per share. Research analysts predict that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a $0.72 dividend. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.83%. Seagate Technology's payout ratio is 73.11%.

Insider Activity

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now directly owns 3,034 shares of the company's stock, valued at $291,567.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Seagate Technology news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the sale, the executive vice president now directly owns 9,969 shares of the company's stock, valued at approximately $1,096,590. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the business's stock in a transaction on 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 transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,638 shares of company stock valued at $20,924,155 in the last quarter. Company insiders own 0.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Loop Capital lifted their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, July 24th. Evercore ISI upped their price objective 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. Wells Fargo & Company upped their price target on Seagate Technology from $90.00 to $120.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Finally, Susquehanna increased their price objective on Seagate Technology from $55.00 to $65.00 and gave the company a "negative" rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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.