Tidal Investments LLC Has $596,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

Tidal Investments LLC boosted its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 21.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,441 shares of the data storage provider’s stock after purchasing an additional 956 shares during the quarter. Tidal Investments LLC’s holdings in Seagate Technology were worth $596,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Seagate Technology by 2.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,871 shares of the data storage provider’s stock worth $1,019,000 after purchasing an additional 270 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Seagate Technology by 81.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 63,862 shares of the data storage provider’s stock valued at $6,595,000 after acquiring an additional 28,630 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of Seagate Technology by 12.8% in the second quarter. AustralianSuper Pty Ltd now owns 18,160 shares of the data storage provider’s stock valued at $1,875,000 after acquiring an additional 2,059 shares in the last quarter. Bensler LLC bought a new position in Seagate Technology during the second quarter worth about $202,000. Finally, Checchi Capital Advisers LLC increased its position in Seagate Technology by 3.8% during the second quarter. Checchi Capital Advisers LLC now owns 3,945 shares of the data storage provider’s stock worth $407,000 after acquiring an additional 143 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Trading Down 0.3 %

Seagate Technology stock opened at $87.31 on Monday. The stock has a 50-day moving average price of $100.86 and a two-hundred day moving average price of $102.17. Seagate Technology Holdings plc has a 12 month low of $79.39 and a 12 month high of $115.32. The company has a market capitalization of $18.47 billion, a PE ratio of 22.80 and a beta of 1.03.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned ($0.34) EPS. The firm’s revenue was up 49.1% compared to the same quarter last year. As a group, analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio (DPR) is 75.20%.

Insider Buying and Selling

In other Seagate Technology news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now directly owns 7,191 shares in the company, valued at approximately $804,672.90. This trade represents a 13.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the transaction, the director now directly 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. Insiders have sold a total of 221,961 shares of company stock valued at $23,967,629 over the last ninety days. 0.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

STX has been the topic of a number of analyst reports. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research report on Thursday, October 17th. Rosenblatt Securities raised their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research report on Wednesday, October 23rd. Evercore ISI raised their price target on Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Seagate Technology has a consensus rating of “Moderate Buy” and an average price target of $118.83.

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.