Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 75.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,928 shares of the data storage provider’s stock after acquiring an additional 1,256 shares during the quarter. GAMMA Investing LLC’s holdings in Seagate Technology were worth $321,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Seagate Technology during the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Seagate Technology during the 2nd quarter worth $41,000. Larson Financial Group LLC raised its stake 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 worth $49,000 after buying an additional 473 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in shares of Seagate Technology during the 4th quarter worth $47,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total value of $2,153,600.00. Following the completion of the transaction, the chief executive officer now owns 648,616 shares in the company, valued at $69,842,970.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total value of $2,153,600.00. Following the completion of the transaction, the chief executive officer now owns 648,616 shares in the company, valued at $69,842,970.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 5,387 shares of the company’s stock, valued at approximately $592,570. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 223,284 shares of company stock worth $23,800,887 in the last 90 days. 0.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STX. Barclays lifted their price target on Seagate Technology from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Evercore ISI boosted their target price on shares of Seagate Technology from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Susquehanna boosted their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a research note on Wednesday, July 24th. Finally, UBS Group boosted their target price on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $108.12 on Friday. Seagate Technology Holdings plc has a 1 year low of $64.12 and a 1 year high of $113.57. The stock has a market capitalization of $22.76 billion, a P/E ratio of -83.81 and a beta of 1.04. The stock has a 50-day simple moving average of $102.21 and a 200-day simple moving average of $98.31.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the business earned ($0.29) EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts predict that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Monday, September 23rd. Seagate Technology’s dividend payout ratio is presently -217.05%.

Seagate Technology Company 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.