Insight Wealth Strategies LLC Invests $3.54 Million in Seagate Technology Holdings plc (NASDAQ:STX)

Insight Wealth Strategies LLC acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 41,054 shares of the data storage provider's stock, valued at approximately $3,543,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in shares of Seagate Technology in the 3rd quarter worth approximately $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider's stock valued at $143,370,000 after buying an additional 1,012,638 shares during the last quarter. State Street Corp boosted its holdings in shares of Seagate Technology by 6.8% during the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock valued at $937,081,000 after acquiring an additional 541,585 shares during the period. Franklin Resources Inc. grew its position in shares of Seagate Technology by 29.5% during the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock worth $197,844,000 after acquiring an additional 405,232 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Seagate Technology in the 2nd quarter worth about $35,349,000. Institutional investors own 92.87% of the company's stock.

Wall Street Analyst Weigh In

STX has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a "neutral" rating and set a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Northland Securities increased their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Benchmark reaffirmed a "hold" rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Rosenblatt Securities increased their price target on Seagate Technology from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.83.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now directly owns 642,497 shares of the company's stock, valued at approximately $63,947,726.41. This represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Christopher Morris sold 1,131 shares of Seagate Technology stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,304 shares of company stock worth $5,656,238. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Trading Down 0.0 %

Shares of NASDAQ STX traded down $0.04 during mid-day trading on Monday, reaching $89.11. The company had a trading volume of 2,499,325 shares, compared to its average volume of 2,299,573. Seagate Technology Holdings plc has a 1-year low of $79.39 and a 1-year high of $115.32. The stock has a market cap of $18.85 billion, a PE ratio of 23.27 and a beta of 1.06. The company has a 50-day moving average price of $96.49 and a two-hundred day moving average price of $101.17.

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

Seagate Technology Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's dividend payout ratio (DPR) is 75.20%.

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.