Oddo BHF Asset Management Sas Purchases New Position in Seagate Technology Holdings plc (NASDAQ:STX)

Oddo BHF Asset Management Sas bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 64,931 shares of the data storage provider's stock, valued at approximately $7,112,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Seagate Technology during the third quarter worth approximately $26,000. Quarry LP purchased a new position in Seagate Technology during the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in 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 purchasing an additional 337 shares during the period. Family Firm Inc. purchased a new stake in shares of Seagate Technology in the second quarter valued at about $41,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider's stock worth $44,000 after buying an additional 258 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Northland Securities increased their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $125.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Evercore ISI raised their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Finally, Citigroup boosted their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.83.

Insider Transactions at Seagate Technology

In related news, EVP Ban Seng Teh sold 4,872 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the sale, the executive vice president now directly owns 9,969 shares of the company's stock, valued at approximately $1,096,590. This trade represents a 32.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the transaction, the director now directly owns 6,555 shares of the company's stock, valued at $667,430.10. This trade represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 221,961 shares of company stock worth $23,967,629 over the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

STX traded down $1.16 during midday trading on Friday, reaching $95.75. 4,924,398 shares of the company's stock were exchanged, compared to its average volume of 2,497,944. The business's 50-day moving average price is $102.57 and its 200 day moving average price is $102.15. The stock has a market capitalization of $20.25 billion, a PE ratio of 25.00 and a beta of 1.03. Seagate Technology Holdings plc has a 1-year low of $79.39 and a 1-year high of $115.32.

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, beating 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 firm 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 firm earned ($0.34) EPS. Seagate Technology's quarterly revenue was up 49.1% on a year-over-year basis. As a group, analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, December 13th. Seagate Technology's dividend payout ratio (DPR) is currently 73.11%.

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.