Charles Schwab Investment Management Inc. Increases Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Charles Schwab Investment Management Inc. increased its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,327,920 shares of the data storage provider’s stock after buying an additional 73,267 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Seagate Technology were worth $145,447,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new position in shares of Seagate Technology during the 3rd quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of Seagate Technology during the second quarter valued at approximately $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after acquiring an additional 337 shares during the period. Family Firm Inc. purchased a new position in Seagate Technology in the second quarter worth $41,000. Finally, Advisors Asset Management Inc. grew its stake in Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the period. 92.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Yolanda Lee Conyers sold 750 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $291,567.40. This represents a 19.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $111.90, for a total value of $126,558.90. Following the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This trade represents a 13.59 % 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 worth $21,892,856. Insiders own 0.81% of the company’s stock.

Seagate Technology Price Performance

Shares of NASDAQ:STX opened at $99.62 on Monday. The firm has a fifty day moving average price of $104.69 and a two-hundred day moving average price of $101.71. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 26.01 and a beta of 1.05. Seagate Technology Holdings plc has a one year low of $75.64 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings data 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 company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned ($0.34) earnings per share. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. Equities research analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.89%. Seagate Technology’s payout ratio is presently 73.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $125.00 target price on shares of Seagate Technology in a research note on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Evercore ISI upped their price objective on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Rosenblatt Securities increased their price objective on Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

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.