4,309 Shares in Seagate Technology Holdings plc (NASDAQ:STX) Purchased by Nwam LLC

Nwam LLC bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,309 shares of the data storage provider’s stock, valued at approximately $472,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. GM Advisory Group LLC bought a new stake in shares of Seagate Technology during the 3rd quarter worth about $210,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Seagate Technology by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock worth $145,447,000 after buying an additional 73,267 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Seagate Technology by 3.3% during the 3rd quarter. Primecap Management Co. CA now owns 601,420 shares of the data storage provider’s stock worth $65,874,000 after buying an additional 19,125 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Seagate Technology by 116.9% during the 3rd quarter. Intech Investment Management LLC now owns 246,017 shares of the data storage provider’s stock worth $26,946,000 after buying an additional 132,606 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Seagate Technology by 177.9% during the 3rd 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. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock opened at $99.62 on Monday. Seagate Technology Holdings plc has a 1 year low of $75.64 and a 1 year high of $115.32. The stock has a market cap of $21.07 billion, a price-to-earnings ratio of 26.01 and a beta of 1.05. The company has a 50 day simple moving average of $104.69 and a 200 day simple moving average of $101.71.

Seagate Technology (NASDAQ:STX) last posted its 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. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the firm posted ($0.34) EPS. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. On average, equities research analysts anticipate that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s payout ratio is presently 73.11%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on STX shares. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Northland Securities lifted their price objective 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. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Evercore ISI lifted their price objective 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, Rosenblatt Securities lifted their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insider Activity

In other news, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $105.50, for a total value of $968,701.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the sale, the chief executive officer now directly owns 668,616 shares in the company, valued at approximately $73,668,110.88. This represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is currently owned by insiders.

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.