Creative Planning Increases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Creative Planning boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,713 shares of the data storage provider’s stock after acquiring an additional 2,846 shares during the period. Creative Planning’s holdings in Seagate Technology were worth $4,927,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. CWM LLC increased its position in shares of Seagate Technology by 3.0% during the second 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 during the period. Csenge Advisory Group raised its position in shares of Seagate Technology by 1.4% in the 1st quarter. Csenge Advisory Group now owns 8,473 shares of the data storage provider’s stock worth $788,000 after acquiring an additional 119 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Seagate Technology by 3.7% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,452 shares of the data storage provider’s stock worth $357,000 after acquiring an additional 122 shares in the last quarter. Burney Co. boosted its position 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 purchasing an additional 125 shares in the last quarter. Finally, Forum Financial Management LP boosted its position in shares of Seagate Technology by 4.0% during the second quarter. Forum Financial Management LP now owns 3,228 shares of the data storage provider’s stock valued at $333,000 after purchasing an additional 125 shares in the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 10,117 shares of the firm’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 transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now directly owns 654,270 shares of the company’s stock, valued at $61,148,074.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now owns 5,387 shares in the company, valued at approximately $592,570. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 223,284 shares of company stock worth $23,800,887. 0.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STX. Barclays boosted their target price on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group boosted their price objective on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Monday. Robert W. Baird boosted their price target on Seagate Technology from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, UBS Group raised their price objective on Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $115.94.

Seagate Technology Trading Up 0.2 %

NASDAQ:STX opened at $108.80 on Friday. The company has a 50 day simple moving average of $101.57 and a two-hundred day simple moving average of $97.60. The company has a market cap of $22.90 billion, a PE ratio of -84.34 and a beta of 1.03. Seagate Technology Holdings plc has a 12 month low of $64.12 and a 12 month high of $113.57.

Seagate Technology (NASDAQ:STX) last posted 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. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.29) earnings per share. Research analysts forecast that Seagate Technology Holdings plc will post 6.72 earnings per share for the current year.

Seagate Technology Announces Dividend

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

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.