Wilmington Savings Fund Society FSB Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, HoldingsChannel reports. The fund acquired 495 shares of the data storage provider’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Seagate Technology by 133.8% during the third quarter. Victory Capital Management Inc. now owns 171,952 shares of the data storage provider’s stock valued at $18,834,000 after acquiring an additional 98,418 shares in the last quarter. Versor Investments LP bought a new stake in Seagate Technology during the 3rd quarter valued at about $2,146,000. Lighthouse Investment Partners LLC purchased a new position in Seagate Technology in the second quarter worth about $499,000. Forte Capital LLC ADV lifted its stake in shares of Seagate Technology by 29.8% in the third quarter. Forte Capital LLC ADV now owns 28,972 shares of the data storage provider’s stock worth $3,173,000 after buying an additional 6,653 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Seagate Technology by 3,549.7% during the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock valued at $22,398,000 after buying an additional 198,890 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on STX shares. Rosenblatt Securities upped their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI upped their price target on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 141,785 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at approximately $73,668,110.88. This trade represents a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Christopher Morris sold 1,131 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total transaction of $126,558.90. Following the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. The trade was a 13.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,961 shares of company stock valued at $23,967,629. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Stock Performance

STX opened at $87.31 on Friday. The stock has a market cap of $18.47 billion, a price-to-earnings ratio of 22.80 and a beta of 1.03. The firm’s fifty day moving average is $100.86 and its 200 day moving average is $102.13. Seagate Technology Holdings plc has a fifty-two week low of $79.39 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last released its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the business posted ($0.34) earnings per share. The firm’s revenue was up 49.1% on a year-over-year basis. On average, equities research analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.30%. Seagate Technology’s dividend payout ratio is currently 75.20%.

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.