National Bank of Canada FI lifted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 110.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,452 shares of the data storage provider's stock after purchasing an additional 66,423 shares during the quarter. National Bank of Canada FI owned 0.06% of Seagate Technology worth $13,850,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC increased its holdings in Seagate Technology by 1.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 115,355 shares of the data storage provider's stock worth $12,327,000 after buying an additional 1,118 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in shares of Seagate Technology in the 3rd quarter valued at about $1,036,000. State Street Corp lifted its stake in Seagate Technology by 6.8% in the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock valued at $937,081,000 after purchasing an additional 541,585 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in shares of Seagate Technology during the 3rd quarter worth approximately $2,250,000. Finally, Quantinno Capital Management LP raised its position in shares of Seagate Technology by 36.9% in the third quarter. Quantinno Capital Management LP now owns 23,188 shares of the data storage provider's stock valued at $2,540,000 after purchasing an additional 6,249 shares during the period. Institutional investors and hedge funds own 92.87% of the company's stock.
Seagate Technology Trading Up 0.8 %
Shares of STX stock traded up $0.80 during mid-day trading on Wednesday, reaching $98.39. The stock had a trading volume of 2,555,595 shares, compared to its average volume of 2,486,325. Seagate Technology Holdings plc has a 52-week low of $79.39 and a 52-week high of $115.32. The firm has a market capitalization of $20.81 billion, a PE ratio of 25.50 and a beta of 1.03. The stock's 50-day moving average price is $103.23 and its two-hundred day moving average price is $102.19.
Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. Seagate Technology's revenue for the quarter was up 49.1% on a year-over-year basis. During the same period last year, the company earned ($0.34) EPS. On average, equities research analysts forecast that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.
Seagate Technology Increases Dividend
The business 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 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 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology's payout ratio is presently 73.11%.
Insider Activity at Seagate Technology
In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction 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 completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William D. Mosley sold 141,785 shares of the business'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 value of $15,621,871.30. Following the completion of the sale, the chief executive officer now owns 668,616 shares of the company's stock, valued at $73,668,110.88. The trade was a 17.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,820 shares of company stock worth $23,953,746. 0.81% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Evercore ISI upped their target price on Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Citigroup increased their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Northland Securities lifted their price target on shares of Seagate Technology from $142.00 to $144.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Finally, Wedbush restated an "outperform" rating and set a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two equities research 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $118.83.
Check Out Our Latest Stock Analysis on STX
Seagate Technology Company Profile
(
Free Report)
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.
Further Reading
Before you consider Seagate Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Seagate Technology wasn't on the list.
While Seagate Technology currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
