Ballentine Partners LLC Has $402,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

Ballentine Partners LLC raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,671 shares of the data storage provider’s stock after purchasing an additional 129 shares during the quarter. Ballentine Partners LLC’s holdings in Seagate Technology were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake in shares of Seagate Technology by 68.7% during the 1st quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after buying an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Seagate Technology by 2.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock worth $24,011,000 after buying an additional 6,044 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Seagate Technology by 21.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after buying an additional 40,649 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Seagate Technology by 15.7% in the first quarter. Illinois Municipal Retirement Fund now owns 60,702 shares of the data storage provider’s stock valued at $5,648,000 after acquiring an additional 8,242 shares in the last quarter. Finally, Lighthouse Investment Partners LLC acquired a new stake in Seagate Technology in the 2nd quarter worth about $499,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Down 0.9 %

Seagate Technology stock opened at $103.01 on Monday. The firm’s fifty day moving average price is $105.16 and its two-hundred day moving average price is $99.83. The firm has a market capitalization of $21.63 billion, a price-to-earnings ratio of -79.85 and a beta of 1.04. Seagate Technology Holdings plc has a 1-year low of $64.12 and a 1-year high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly 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. The business 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%. The company’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.34) EPS. On average, research analysts forecast that Seagate Technology Holdings plc will post 7.09 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a $0.72 dividend. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently -217.05%.

Insider Activity

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total value of $1,869,200.00. Following the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gianluca Romano sold 25,760 shares of Seagate Technology stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $94.54, for a total value of $2,435,350.40. Following the sale, the chief financial officer now owns 52,620 shares in the company, valued at $4,974,694.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,398 shares of company stock worth $23,238,106 over the last quarter. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on STX shares. Rosenblatt Securities raised their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of Seagate Technology from $90.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. UBS Group upped their price objective on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a research report on Wednesday, October 23rd. Finally, StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Seagate Technology 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.