UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $143.37 Million Position in Seagate Technology Holdings plc (NASDAQ:STX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 341.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,308,958 shares of the data storage provider's stock after buying an additional 1,012,638 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.62% of Seagate Technology worth $143,370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Seagate Technology in the third quarter worth $26,000. Quarry LP purchased a new position in shares of Seagate Technology during the 2nd quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock worth $36,000 after purchasing an additional 337 shares in the last quarter. Family Firm Inc. acquired a new stake in Seagate Technology during the 2nd quarter worth $41,000. Finally, Advisors Asset Management Inc. lifted its position in 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 in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on STX shares. Cantor Fitzgerald reissued a "neutral" rating and set a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Citigroup boosted their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Benchmark reaffirmed a "hold" rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a "hold" rating to a "buy" rating in a research report on Thursday, October 17th. Finally, Evercore ISI raised their price target on Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $118.83.

Seagate Technology Stock Up 1.8 %

STX stock traded up $1.83 during midday trading on Monday, reaching $103.16. The company had a trading volume of 2,476,833 shares, compared to its average volume of 2,472,331. The firm has a market capitalization of $21.82 billion, a PE ratio of 26.46 and a beta of 1.05. The stock has a 50 day moving average price of $104.51 and a 200 day moving average price of $102.01. Seagate Technology Holdings plc has a fifty-two week low of $76.87 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (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 company had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period last year, the business posted ($0.34) earnings per share. The firm's quarterly revenue was up 49.1% compared to the same quarter last year. Research analysts predict 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 paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, December 13th. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's dividend payout ratio (DPR) is currently 73.11%.

Insider Transactions at Seagate Technology

In other news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kian Fatt Chong sold 9,182 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 201,820 shares of company stock valued at $21,892,856. Corporate insiders own 0.81% of the company's stock.

About Seagate Technology

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.