Wilmington Savings Fund Society FSB Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Wilmington Savings Fund Society FSB bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 495 shares of the data storage provider’s stock, valued at approximately $54,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Seagate Technology during the third quarter worth $26,000. Quarry LP acquired a new position in Seagate Technology during the 2nd quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC grew its position 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 buying an additional 337 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Seagate Technology in the second quarter valued at about $41,000. Finally, Advisors Asset Management Inc. raised its position in shares of 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 acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Down 0.3 %

Shares of STX stock opened at $87.31 on Friday. The firm has a market cap of $18.47 billion, a P/E ratio of 22.80 and a beta of 1.03. The company has a 50 day moving average of $100.86 and a 200-day moving average of $102.13. Seagate Technology Holdings plc has a 12-month low of $79.39 and a 12-month high of $115.32.

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, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company posted ($0.34) earnings per share. The business’s revenue was up 49.1% on a year-over-year basis. As a group, equities 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 $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 3.30%. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s payout ratio is 75.20%.

Insider Activity at Seagate Technology

In related news, EVP Ban Seng Teh sold 4,872 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total transaction of $535,920.00. Following the completion of the transaction, the executive vice president now owns 9,969 shares of the company’s stock, valued at approximately $1,096,590. The trade was a 32.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now owns 6,555 shares in the company, valued at $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,961 shares of company stock worth $23,967,629. 0.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on STX shares. Northland Securities lifted their target price on shares of Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Citigroup raised their price objective on Seagate Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note 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 report on Wednesday, October 23rd. Finally, Evercore ISI lifted their price target on shares of Seagate Technology from $125.00 to $135.00 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

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.