HighTower Advisors LLC Purchases 54,341 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

HighTower Advisors LLC increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 23.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,610 shares of the data storage provider's stock after purchasing an additional 54,341 shares during the period. HighTower Advisors LLC owned approximately 0.14% of Seagate Technology worth $31,270,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Seagate Technology in the third quarter worth about $26,000. Quarry LP acquired a new stake in shares of Seagate Technology during the second quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock valued at $36,000 after acquiring an additional 337 shares during the last quarter. Family Firm Inc. bought a new position in shares of Seagate Technology in the second quarter valued at approximately $41,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock worth $44,000 after acquiring an additional 258 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 642,497 shares in the company, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 4,872 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,969 shares in the company, valued at $1,096,590. The trade was a 32.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 221,820 shares of company stock worth $23,953,746. 0.81% of the stock is owned by company insiders.

Seagate Technology Price Performance

NASDAQ:STX traded up $0.33 on Friday, hitting $98.51. 2,720,247 shares of the company's stock were exchanged, compared to its average volume of 2,484,768. The firm has a 50-day moving average price of $103.85 and a 200-day moving average price of $102.01. Seagate Technology Holdings plc has a 52 week low of $78.10 and a 52 week high of $115.32. The company has a market cap of $20.84 billion, a P/E ratio of 25.63 and a beta of 1.03.

Seagate Technology (NASDAQ:STX - Get Free Report) 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 analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% 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 quarter in the prior year, the business posted ($0.34) EPS. The business's revenue was up 49.1% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology's dividend payout ratio (DPR) is presently 73.11%.

Wall Street Analysts Forecast Growth

STX has been the topic of several research reports. StockNews.com upgraded shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Cantor Fitzgerald reissued a "neutral" rating and set a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Evercore ISI boosted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Citigroup increased 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, October 23rd. Finally, Northland Securities boosted their target price on Seagate Technology from $142.00 to $144.00 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 issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.