MassMutual Private Wealth & Trust FSB Raises Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

MassMutual Private Wealth & Trust FSB boosted its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 46.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,266 shares of the data storage provider’s stock after acquiring an additional 404 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Seagate Technology were worth $109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of STX. Ashton Thomas Securities LLC purchased a new stake in shares of Seagate Technology during the 3rd quarter valued at $26,000. Quarry LP purchased a new stake in Seagate Technology in the second quarter valued at about $27,000. Advisors Asset Management Inc. boosted its holdings in Seagate Technology by 177.9% in 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 in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Seagate Technology by 232.5% during the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Seagate Technology during the third quarter valued at about $53,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on STX. Evercore ISI lifted their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Cantor Fitzgerald restated a “neutral” rating and issued a $120.00 target price on shares of Seagate Technology in a research note on Wednesday. Barclays boosted their price target on Seagate Technology from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Bank of America raised their price objective on Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $122.56.

Insider Activity

In other news, SVP Kian Fatt Chong sold 9,182 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,073 shares of company stock worth $5,106,149 over the last three months. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Stock Up 0.2 %

Shares of NASDAQ STX opened at $108.42 on Friday. The firm has a 50-day moving average price of $94.55 and a 200 day moving average price of $100.33. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The stock has a market capitalization of $22.93 billion, a price-to-earnings ratio of 19.82 and a beta of 1.06.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 58.59% and a net margin of 14.67%. The business’s revenue for the quarter was up 49.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.34) earnings per share. Equities research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.66%. Seagate Technology’s dividend payout ratio (DPR) is 52.65%.

Seagate Technology Company 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.