Strategy Asset Managers LLC Invests $667,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Strategy Asset Managers LLC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,092 shares of the data storage provider's stock, valued at approximately $667,000.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in Seagate Technology by 68.7% in the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider's stock valued at $1,634,000 after purchasing an additional 7,150 shares during the period. CreativeOne Wealth LLC bought a new stake in Seagate Technology during the first quarter valued at $259,000. Lazard Asset Management LLC grew its position in Seagate Technology by 6.9% during the first quarter. Lazard Asset Management LLC now owns 13,609 shares of the data storage provider's stock worth $1,266,000 after buying an additional 881 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider's stock worth $24,011,000 after acquiring an additional 6,044 shares during the last quarter. Finally, SVB Wealth LLC raised its holdings in shares of Seagate Technology by 18.7% in the 1st quarter. SVB Wealth LLC now owns 6,273 shares of the data storage provider's stock valued at $584,000 after acquiring an additional 987 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

Seagate Technology stock opened at $98.02 on Thursday. The company's fifty day moving average price is $104.85 and its 200 day moving average price is $101.59. The stock has a market capitalization of $20.73 billion, a P/E ratio of 25.59 and a beta of 1.05. Seagate Technology Holdings plc has a 1 year low of $75.52 and a 1 year high of $115.32.

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, beating analysts' consensus estimates 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 the consensus estimate 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. Sell-side analysts predict that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. 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. This is an increase from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's payout ratio is currently 73.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on STX shares. UBS Group increased their target price on Seagate Technology from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. TD Cowen raised their price objective on Seagate Technology from $110.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their target price on Seagate Technology from $90.00 to $120.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 24th. StockNews.com raised shares of Seagate Technology from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Finally, Citigroup boosted their price objective on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $118.83.

Insider Transactions at Seagate Technology

In related news, Director Jay L. Geldmacher sold 4,100 shares of the company's stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $103.30, for a total value of $423,530.00. Following the completion of the sale, the director now directly owns 2,852 shares of the company's stock, valued at $294,611.60. This represents a 58.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares in the company, valued at $1,096,590. The trade was a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is currently owned by corporate insiders.

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.