Insigneo Advisory Services LLC Grows Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Insigneo Advisory Services LLC increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 16.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,532 shares of the data storage provider’s stock after purchasing an additional 364 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Seagate Technology were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Seagate Technology by 3.1% during the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after purchasing an additional 746,395 shares in the last quarter. Capital Research Global Investors grew its holdings in Seagate Technology by 39.3% during the 4th quarter. Capital Research Global Investors now owns 16,614,884 shares of the data storage provider’s stock valued at $1,418,413,000 after buying an additional 4,685,454 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Seagate Technology by 14.5% during the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after buying an additional 337,464 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Seagate Technology by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after buying an additional 9,062 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Seagate Technology by 6.2% during the 1st quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock valued at $64,130,000 after buying an additional 40,100 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 1.8 %

Shares of Seagate Technology stock opened at $108.74 on Friday. The stock’s fifty day moving average is $101.37 and its two-hundred day moving average is $97.02. The company has a market capitalization of $22.89 billion, a PE ratio of -84.29 and a beta of 1.03. Seagate Technology Holdings plc has a 52 week low of $63.88 and a 52 week high of $113.57.

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

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 23rd will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Monday, September 23rd. Seagate Technology’s dividend payout ratio is -217.05%.

Insiders Place Their Bets

In other Seagate Technology news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $592,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the completion of the sale, the executive vice president now directly owns 5,387 shares in the company, valued at approximately $592,570. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now owns 3,034 shares of the company’s stock, valued at $291,567.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 203,284 shares of company stock worth $21,647,287. 0.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STX. Wedbush raised their price target on Seagate Technology from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. TD Cowen lifted their price target on Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Robert W. Baird boosted their price objective on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Evercore ISI lifted their target price on Seagate Technology from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley boosted their target price on Seagate Technology from $115.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Seagate Technology currently has an average rating of “Hold” and an average price target of $115.94.

About Seagate Technology

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.