Frank Rimerman Advisors LLC Acquires 277 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Frank Rimerman Advisors LLC lifted its position in Seagate Technology Holdings plc (NASDAQ:STX) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,441 shares of the data storage provider’s stock after purchasing an additional 277 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Seagate Technology were worth $377,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in STX. Sunbelt Securities Inc. increased its holdings in shares of Seagate Technology by 269.1% in 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 during the period. Wealth Enhancement Advisory Services LLC grew its position in Seagate Technology by 20.4% in 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 acquiring an additional 2,217 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Seagate Technology by 40.7% in 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 acquiring an additional 3,386 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in Seagate Technology in the first quarter worth $209,000. Finally, First Trust Direct Indexing L.P. grew its position in Seagate Technology by 6.1% in the first quarter. First Trust Direct Indexing L.P. now owns 5,894 shares of the data storage provider’s stock worth $548,000 after acquiring an additional 339 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other Seagate Technology news, Director Jay L. Geldmacher sold 4,100 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $103.30, for a total transaction of $423,530.00. Following the completion of the transaction, the director now owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Seagate Technology news, Director Jay L. Geldmacher sold 4,100 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $103.30, for a total transaction of $423,530.00. Following the completion of the transaction, the director now owns 2,852 shares of the company’s stock, valued at approximately $294,611.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Christopher Morris sold 1,131 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 7,191 shares of the company’s stock, valued at $804,672.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,398 shares of company stock valued at $23,238,106 over the last three months. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

STX has been the subject of several research reports. Susquehanna upped their target price on shares of Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. Rosenblatt Securities upped their target price on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities upped their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their price target on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group upped their price target on shares of Seagate Technology from $96.00 to $107.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Price Performance

STX stock opened at $101.32 on Tuesday. Seagate Technology Holdings plc has a 1 year low of $66.93 and a 1 year high of $115.32. The company has a market cap of $21.28 billion, a P/E ratio of -78.54 and a beta of 1.04. The firm has a 50-day moving average of $105.16 and a 200 day moving average of $99.83.

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, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned ($0.34) earnings per share. Seagate Technology’s revenue was up 49.1% on a year-over-year basis. On average, equities research analysts expect that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal 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 paid a $0.72 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently -223.26%.

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.