Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC grew its position in Seagate Technology Holdings plc (NASDAQ:STX) by 15.1% during the third quarter, Holdings Channel reports. The firm owned 2,452 shares of the data storage provider’s stock after acquiring an additional 321 shares during the period. Orion Portfolio Solutions LLC’s holdings in Seagate Technology were worth $269,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of STX. Ashton Thomas Securities LLC purchased a new stake in shares of Seagate Technology in the third quarter worth about $26,000. Quarry LP acquired a new stake in shares of Seagate Technology during the 2nd quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Seagate Technology by 2,407.1% during the 2nd 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 in the last quarter. Family Firm Inc. acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $41,000. Finally, Advisors Asset Management Inc. boosted its holdings in Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after buying an additional 258 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock opened at $87.54 on Friday. Seagate Technology Holdings plc has a 1 year low of $79.39 and a 1 year high of $115.32. The firm has a market capitalization of $18.52 billion, a PE ratio of 22.86 and a beta of 1.03. The business has a 50 day simple moving average of $101.31 and a 200-day simple moving average of $102.09.

Seagate Technology (NASDAQ:STX) last issued its 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. 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 32.19% and a net margin of 11.34%. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same period last year, the company earned ($0.34) EPS. On average, equities research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio (DPR) is currently 75.20%.

Analyst Ratings Changes

A number of research analysts have weighed in on STX shares. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities raised their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Citigroup lifted their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

Insider Activity

In related news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction that occurred 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 sale, the executive vice president now owns 9,969 shares in the company, valued at approximately $1,096,590. This trade represents a 32.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,961 shares of company stock valued at $23,967,629. 0.81% of the stock is currently owned by company insiders.

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.