CreativeOne Wealth LLC Raises Position in Seagate Technology Holdings plc (NASDAQ:STX)

CreativeOne Wealth LLC raised its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 86.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,999 shares of the data storage provider’s stock after buying an additional 2,790 shares during the quarter. CreativeOne Wealth LLC’s holdings in Seagate Technology were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in STX. Ashton Thomas Securities LLC purchased a new position in Seagate Technology in the third quarter worth $26,000. Quarry LP bought a new stake in Seagate Technology during the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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 worth $36,000 after purchasing an additional 337 shares in the last quarter. Family Firm Inc. bought a new position in shares of Seagate Technology during the 2nd quarter valued at about $41,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after buying an additional 258 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Trading Up 1.3 %

Shares of NASDAQ STX opened at $101.33 on Friday. The firm has a fifty day simple moving average of $104.51 and a two-hundred day simple moving average of $101.98. Seagate Technology Holdings plc has a 12 month low of $76.87 and a 12 month high of $115.32. The firm has a market capitalization of $21.43 billion, a PE ratio of 26.46 and a beta of 1.05.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share (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 was up 49.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) earnings per share. On average, sell-side analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors 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 a positive change from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.84%. Seagate Technology’s payout ratio is currently 75.20%.

Analyst Ratings Changes

A number of brokerages have commented on STX. Rosenblatt Securities increased their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Evercore ISI boosted their target price on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Two research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $118.83.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 141,785 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the sale, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. This represents a 17.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 4,872 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now owns 9,969 shares of the company’s stock, valued at $1,096,590. The trade was a 32.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 201,820 shares of company stock valued at $21,892,856 over the last ninety days. Company insiders own 0.81% of the company’s stock.

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.