Commerzbank Aktiengesellschaft FI Invests $226,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Commerzbank Aktiengesellschaft FI 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 filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,060 shares of the data storage provider’s stock, valued at approximately $226,000.

Several other hedge funds have also made changes to their positions in STX. Park Avenue Securities LLC boosted its stake in shares of Seagate Technology by 7.1% during the first quarter. Park Avenue Securities LLC now owns 5,590 shares of the data storage provider’s stock worth $520,000 after buying an additional 371 shares during the period. Sunbelt Securities Inc. raised its holdings in Seagate Technology by 269.1% during the first quarter. Sunbelt Securities Inc. now owns 753 shares of the data storage provider’s stock worth $70,000 after purchasing an additional 549 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Seagate Technology by 20.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,105 shares of the data storage provider’s stock worth $1,219,000 after purchasing an additional 2,217 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Seagate Technology by 40.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 11,708 shares of the data storage provider’s stock worth $1,089,000 after purchasing an additional 3,386 shares in the last quarter. Finally, Vicus Capital purchased a new position in Seagate Technology during the first quarter worth about $254,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

Shares of STX opened at $103.98 on Friday. The stock has a fifty day moving average of $105.13 and a two-hundred day moving average of $99.58. The company has a market capitalization of $21.83 billion, a PE ratio of -80.60 and a beta of 1.04. Seagate Technology Holdings plc has a fifty-two week low of $64.12 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. Seagate Technology’s revenue was up 49.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) EPS. As a group, equities research analysts forecast that Seagate Technology Holdings plc will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.77%. Seagate Technology’s payout ratio is currently -217.05%.

Insider Activity

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were 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 $291,567.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Ban Seng Teh sold 4,872 shares of the company’s 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 sale, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s 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 sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,398 shares of company stock valued at $23,238,106 in the last ninety days. Company insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STX. Loop Capital increased their price target on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Citigroup increased their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays increased their target price on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, UBS Group lifted their price target on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Seagate Technology presently has a consensus rating of “Hold” and an average price target of $118.83.

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.