Seagate Technology Holdings plc (NASDAQ:STX) Shares Bought by Perpetual Ltd

by · The Markets Daily

Perpetual Ltd boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX – Free Report) by 51.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,201 shares of the data storage provider’s stock after buying an additional 1,426 shares during the period. Perpetual Ltd’s holdings in Seagate Technology were worth $460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Seagate Technology during the second quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Seagate Technology by 2,407.1% in 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 during the last quarter. Family Firm Inc. acquired a new position in shares of Seagate Technology in the 2nd quarter valued at $41,000. Larson Financial Group LLC lifted its stake in shares of Seagate Technology by 15,766.7% in the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock valued at $49,000 after purchasing an additional 473 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in shares of Seagate Technology in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the completion of the sale, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at $592,570. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 223,284 shares of company stock valued at $23,800,887 in the last three months. 0.81% of the stock is currently owned by company insiders.

Seagate Technology Price Performance

Shares of NASDAQ STX opened at $109.81 on Friday. Seagate Technology Holdings plc has a 1-year low of $64.12 and a 1-year high of $113.57. The company has a market cap of $23.11 billion, a price-to-earnings ratio of 71.31 and a beta of 1.04. The stock’s 50-day moving average is $102.51 and its two-hundred day moving average is $98.46.

Seagate Technology (NASDAQ:STX – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business posted ($0.29) EPS. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Seagate Technology Holdings plc will post 6.72 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 23rd were given a $0.70 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.55%. Seagate Technology’s dividend payout ratio (DPR) is presently 181.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on STX shares. Citigroup upped their price target on Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Northland Securities upped their price target on Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities upped their price target on Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Susquehanna boosted their price objective on Seagate Technology from $55.00 to $65.00 and gave the company a “negative” rating in a report on Wednesday, July 24th. Finally, Loop Capital boosted their price objective on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $115.94.

View Our Latest Analysis on Seagate Technology

Seagate Technology Company Profile

(Free Report)

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.

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