2,368 Shares in Seagate Technology Holdings plc (NASDAQ:STX) Bought by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, Holdings Channel reports. The institutional investor purchased 2,368 shares of the data storage provider’s stock, valued at approximately $259,000.

Several other hedge funds have also recently made changes to their positions in STX. Entropy Technologies LP raised its stake in shares of Seagate Technology by 42.2% during the 3rd quarter. Entropy Technologies LP now owns 7,617 shares of the data storage provider’s stock valued at $834,000 after purchasing an additional 2,260 shares during the period. Apollon Wealth Management LLC grew its position in Seagate Technology by 4.3% during the third quarter. Apollon Wealth Management LLC now owns 12,194 shares of the data storage provider’s stock worth $1,336,000 after buying an additional 503 shares in the last quarter. Versor Investments LP purchased a new position in Seagate Technology during the third quarter worth about $2,146,000. Ashton Thomas Securities LLC purchased a new position in Seagate Technology during the third quarter worth about $26,000. Finally, Los Angeles Capital Management LLC grew its position in Seagate Technology by 31.7% during the third quarter. Los Angeles Capital Management LLC now owns 268,108 shares of the data storage provider’s stock worth $29,366,000 after buying an additional 64,528 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

STX has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Citigroup boosted their target price on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities upped their price target on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Finally, Northland Securities upped their price target on Seagate Technology from $142.00 to $144.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Transactions at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at $291,567.40. The trade was a 19.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the sale, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. This trade represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,820 shares of company stock valued at $21,892,856. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Stock Down 0.3 %

Shares of NASDAQ:STX opened at $99.62 on Friday. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of 26.01 and a beta of 1.05. Seagate Technology Holdings plc has a 52 week low of $75.64 and a 52 week high of $115.32. The firm has a 50 day moving average of $104.69 and a 200 day moving average of $101.62.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. Seagate Technology’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. On average, sell-side analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.89%. Seagate Technology’s dividend 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.