Safe Harbor Fiduciary LLC Acquires New Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Safe Harbor Fiduciary LLC bought a new stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,542 shares of the data storage provider's stock, valued at approximately $2,250,000. Seagate Technology comprises approximately 2.1% of Safe Harbor Fiduciary LLC's holdings, making the stock its 13th biggest holding.

A number of other institutional investors have also made changes to their positions in STX. Tidal Investments LLC lifted its holdings in Seagate Technology by 24.5% during the 1st quarter. Tidal Investments LLC now owns 4,289 shares of the data storage provider's stock worth $399,000 after buying an additional 844 shares in the last quarter. Cetera Investment Advisers grew its stake in Seagate Technology by 77.5% during the 1st quarter. Cetera Investment Advisers now owns 55,643 shares of the data storage provider's stock worth $5,178,000 after purchasing an additional 24,287 shares in the last quarter. Cetera Advisors LLC increased its holdings in Seagate Technology by 129.4% during the 1st quarter. Cetera Advisors LLC now owns 13,036 shares of the data storage provider's stock worth $1,213,000 after purchasing an additional 7,353 shares during the period. GAMMA Investing LLC raised its position in Seagate Technology by 79.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,672 shares of the data storage provider's stock valued at $173,000 after purchasing an additional 741 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in shares of Seagate Technology by 3.7% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider's stock valued at $357,000 after buying an additional 122 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Trading Up 0.8 %

Shares of STX stock traded up $0.79 during trading hours on Thursday, hitting $98.42. The company's stock had a trading volume of 1,610,212 shares, compared to its average volume of 2,480,670. Seagate Technology Holdings plc has a twelve month low of $77.71 and a twelve month high of $115.32. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of 25.49 and a beta of 1.03. The business has a fifty day moving average of $104.10 and a 200-day moving average of $102.04.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to analysts' expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business's revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share. On average, equities analysts expect that Seagate Technology Holdings plc will post 7.18 EPS 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.93%. This is an increase from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's payout ratio is currently 73.11%.

Insider Activity at Seagate Technology

In related news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. This represents a 13.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 642,497 shares of the company's stock, valued at approximately $63,947,726.41. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,820 shares of company stock worth $23,953,746. 0.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup lifted 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. Rosenblatt Securities increased their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a "hold" rating to a "buy" rating in a report on Thursday, October 17th. Wedbush restated an "outperform" rating and set a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, Northland Securities lifted their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $118.83.

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.