Seagate Technology Holdings plc (NASDAQ:STX) Stake Boosted by Entropy Technologies LP

Entropy Technologies LP boosted its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 42.2% in the third quarter, HoldingsChannel reports. The fund owned 7,617 shares of the data storage provider’s stock after buying an additional 2,260 shares during the quarter. Entropy Technologies LP’s holdings in Seagate Technology were worth $834,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in Seagate Technology by 3.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock valued at $281,000 after buying an additional 89 shares in the last quarter. CWM LLC boosted its stake in Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider’s stock valued at $342,000 after buying an additional 97 shares in the last quarter. Affinity Capital Advisors LLC boosted its stake in Seagate Technology by 1.5% in the third quarter. Affinity Capital Advisors LLC now owns 6,620 shares of the data storage provider’s stock worth $725,000 after purchasing an additional 100 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in Seagate Technology by 3.7% in the second quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after purchasing an additional 122 shares in the last quarter. Finally, Burney Co. lifted its stake in shares of Seagate Technology by 3.3% during the first quarter. Burney Co. now owns 3,948 shares of the data storage provider’s stock valued at $367,000 after acquiring an additional 125 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This represents a 19.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 141,785 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. The trade was a 17.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 201,820 shares of company stock worth $21,892,856 in the last 90 days. Insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of several research reports. Barclays upped their price target on Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Loop Capital upped their price objective on Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. UBS Group increased their price target on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Northland Securities raised their price objective on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen increased their target price on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Seagate Technology has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Seagate Technology Trading Down 0.8 %

STX stock opened at $97.46 on Friday. The stock has a 50-day moving average price of $105.11 and a 200-day moving average price of $101.18. Seagate Technology Holdings plc has a 1-year low of $74.06 and a 1-year high of $115.32. The firm has a market cap of $20.62 billion, a PE ratio of 25.45 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 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 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 firm’s revenue was up 49.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.34) EPS. On average, analysts forecast that Seagate Technology Holdings plc will post 7.35 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is presently 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.