Janney Montgomery Scott LLC Increases Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Janney Montgomery Scott LLC raised its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 13.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,064 shares of the data storage provider’s stock after buying an additional 8,944 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Seagate Technology were worth $8,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Seagate Technology during the 2nd quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $41,000. JFS Wealth Advisors LLC grew its holdings in shares of Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the period. Finally, Larson Financial Group LLC increased its position 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 purchasing an additional 473 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Seagate Technology 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 value of $535,920.00. Following the completion of the transaction, the executive vice president now owns 9,969 shares in the company, valued at $1,096,590. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now directly owns 9,969 shares of the company’s stock, valued at $1,096,590. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the 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 owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 192,638 shares of company stock worth $20,924,155 in the last ninety days. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STX has been the subject of several research analyst reports. Wells Fargo & Company increased 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. Citigroup lifted their target price on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Susquehanna upped their price target on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their target price on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Seagate Technology Price Performance

Seagate Technology stock opened at $105.11 on Friday. The stock has a market cap of $22.23 billion, a PE ratio of 27.44 and a beta of 1.05. The stock’s fifty day moving average is $104.95 and its two-hundred day moving average is $100.67. Seagate Technology Holdings plc has a 1-year low of $70.41 and a 1-year high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.34) EPS. On average, 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 announced 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 represents a $2.88 dividend on an annualized basis and a dividend yield of 2.74%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is 73.11%.

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.