Lighthouse Investment Partners LLC Buys Shares of 4,830 Seagate Technology Holdings plc (NASDAQ:STX)

Lighthouse Investment Partners LLC bought a new position in Seagate Technology Holdings plc (NASDAQ:STX) during the 2nd quarter, Holdings Channel.com reports. The fund bought 4,830 shares of the data storage provider’s stock, valued at approximately $499,000.

Other large investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Seagate Technology by 2,407.1% in the 2nd 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. purchased a new stake in Seagate Technology in the second quarter worth about $41,000. Larson Financial Group LLC lifted its position in shares of Seagate Technology by 15,766.7% during the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after buying an additional 473 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Seagate Technology during the 4th quarter valued at approximately $47,000. Finally, Richardson Financial Services Inc. purchased a new stake in Seagate Technology in the 4th quarter worth approximately $47,000. 92.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STX has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Northland Securities increased their price target on Seagate Technology from $119.00 to $142.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Morgan Stanley increased their target price on Seagate Technology from $115.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Robert W. Baird boosted their price target on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $115.94.

Insider Activity at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the sale, the executive vice president now owns 5,387 shares of the company’s stock, valued at approximately $592,570. The disclosure for this sale can be found here. Insiders sold 203,284 shares of company stock worth $21,647,287 in the last 90 days. 0.89% of the stock is owned by corporate insiders.

Seagate Technology Stock Down 1.8 %

Shares of STX opened at $108.74 on Friday. Seagate Technology Holdings plc has a 52-week low of $63.88 and a 52-week high of $113.57. The business has a fifty day moving average of $101.37 and a 200 day moving average of $97.02. The company has a market cap of $22.89 billion, a PE ratio of -84.29 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.29. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.29) earnings per share. As a group, research analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be paid a $0.70 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.57%. Seagate Technology’s payout ratio is -217.05%.

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.