Intech Investment Management LLC Boosts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Intech Investment Management LLC increased its holdings in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 116.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,017 shares of the data storage provider's stock after buying an additional 132,606 shares during the quarter. Intech Investment Management LLC owned 0.12% of Seagate Technology worth $26,946,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings 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 valued at $281,000 after purchasing an additional 89 shares in the last quarter. CWM LLC lifted its holdings in Seagate Technology by 3.0% during the second quarter. CWM LLC now owns 3,307 shares of the data storage provider's stock valued at $342,000 after purchasing an additional 97 shares in the last quarter. Affinity Capital Advisors LLC lifted its holdings 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 valued at $725,000 after purchasing an additional 100 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Seagate Technology by 3.7% during the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider's stock valued at $357,000 after purchasing an additional 122 shares in the last quarter. Finally, Burney Co. lifted its holdings in Seagate Technology by 3.3% during the first quarter. Burney Co. now owns 3,948 shares of the data storage provider's stock valued at $367,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analysts Set New Price Targets

STX has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the company an "outperform" rating in a 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. Morgan Stanley lifted their price objective on shares of Seagate Technology from $115.00 to $133.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. Evercore ISI lifted their price objective on shares of Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on shares of Seagate Technology from $80.00 to $95.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Seagate Technology currently has an average rating of "Moderate Buy" and an average price target of $118.83.

Insider Activity at Seagate Technology

In other Seagate Technology news, 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 completion of the transaction, the chief executive officer now directly owns 668,616 shares of the company's stock, valued at approximately $73,668,110.88. This trade represents a 17.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction 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 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 201,820 shares of company stock valued at $21,892,856 in the last three months. 0.81% of the stock is owned by insiders.

Seagate Technology Stock Performance

NASDAQ:STX opened at $98.02 on Thursday. Seagate Technology Holdings plc has a fifty-two week low of $75.52 and a fifty-two week high of $115.32. The stock has a market capitalization of $20.73 billion, a P/E ratio of 25.59 and a beta of 1.05. The company's 50-day simple moving average is $104.85 and its 200-day simple moving average is $101.59.

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 the consensus estimate of $1.30 by $0.28. The firm 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 was up 49.1% on a year-over-year basis. During the same period last year, the firm posted ($0.34) EPS. On average, research analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a $0.72 dividend. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology's dividend payout ratio (DPR) is presently 73.11%.

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.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology Holdings plc (NASDAQ:STX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.